EXTRA VALUE: 2019 ANNUAL REPORT
We aim to have the strongest team in storage and to provide the best place to work in the industry. We believe that if we have the best people at our properties, our call center, and in our corporate office, we will produce the best results. This focus on building a deep, diverse talent pool at Extra Space is not only about executing today but having the right people in place to ensure excellent execution for the next decade and beyond. Investments in improving our employee experience to help us attract, develop and retain top talent have paid off for us, since those employees bring experience and dedication which provide extra value for the company, and make Extra Space Storage a great place to work.
Our focus on top talent, is true at all levels of the company. Our executive management team has an average tenure of 17 years with Extra Space Storage, and succession plans are emphasized at every level of management. We have a track record of well-executed management transitions allowing us to seamlessly adapt to change. Our management team’s style has been praised by employees for its transparency, its encouragement of work life balance, and its ability to drive the team to bring their best selves to work. Our executive team has consistently been recognized on Wall Street for providing excellent “bang for the buck” when comparing compensation to total shareholder return.
"Our team is the main asset that sets us apart from the industry. Our focus on making Extra Space a great place to work allows us to attract, develop and retain the best out there. The pay off is that our team has an expectation of excellence that is fulfilled effectively by players at all levels."
GWYN G. MCNEAL
Executive Vice President and Chief Legal Officer
Ask any employee at Extra Space about what makes Extra Space successful and they’ll point to our company culture and our company values. Our five values – Integrity, Excellence, Innovation, Teamwork and Passion – are at the center of everything we do. They steer the way we work, interact with customers, and behave in our communities. Our company compass is a guide that gives direction to our strategy. Learn more about our company culture here.
One way our employees embody our Extra Space values is by giving back. We have a culture of giving back and encourage our 4,000 employees to volunteer within their communities individually, and together as departments. Extra Space team members continue to impress as they do great work for Extra Space, and for charities and organizations that are meaningful to them personally.
Our values are at the center of all we do. They guide the way we work, interact with customers and treat each other. Our company compass shows our values and the principles and actions that guide our culture.
Joseph D. Margolis
Chief Executive Officer
Joseph D. Margolis has served as our Chief Executive Officer since January 1, 2017. Previously, he served as our Executive Vice President and Chief Investment Officer (“CIO”) from July 2015 until December 31, 2016. Mr. Margolis served as a member of our board of directors from February 2005 until July 2015. From 2011 until July 2015, he also was Senior Managing Director and Partner at Penzance Properties, a vertically integrated owner, operator and developer of office and other properties in the Washington, D.C. metro area. Previously, Mr. Margolis was a co-founding partner of Arsenal Real Estate Funds, a private real estate investment management firm, from 2004 through 2011. Before forming Arsenal in 2004, Mr. Margolis held senior positions from 1992 to 2004 at Prudential Real Estate Investors in portfolio management, capital markets and as General Counsel. Before that, Mr. Margolis worked for The Prudential Insurance Company of America as in-house real estate counsel from 1988 through 1992, and as a real estate associate at the law firm of Nutter, McClennen & Fish from 1986 through 1988. Mr. Margolis is a graduate of Harvard College and Columbia University School of Law.