Life Storage, Inc. Announces Executive Leadership Succession

Rhea-AI Summary

Life Storage, Inc. (NYSE: LSI) announced the retirement of CFO Andrew Gregoire, effective January 2, 2023. He will assist in the transition until June 30, 2023. The company promotes Alexander Gress, Vice President of Finance, to CFO. Joseph Saffire, CEO, recognized Gregoire’s 24 years of service in expanding the company's national presence across 37 states with over 1,100 properties. Gress, who joined Life Storage recently, brings significant experience from his roles in international banking and real estate investment, positioning the company for future success.

Positive

• Promotion of Alexander Gress to CFO indicates strong internal leadership development.
• Gress brings valuable experience in capital markets and real estate, potentially enhancing financial strategy.

Negative

• None.

Andrew Gregoire to Retire as Chief Financial Officer, to be Succeeded by Alexander Gress, Vice President of Finance, Corporate Planning and Investor Relations

BUFFALO, N.Y.--(BUSINESS WIRE)-- Life Storage, Inc. (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today that it will promote the Company’s Vice President of Finance, Corporate Planning and Investor Relations to Chief Financial Officer upon the retirement of current CFO, Andrew Gregoire, on January 2, 2023. Post-retirement, Mr. Gregoire will continue to assist in order to provide for a smooth transition, through June 30, 2023.

“On behalf of myself, the management team, the board and the entire Life Storage team, I want to express my deepest appreciation and gratitude to Andy for his invaluable contributions and dedication to Life Storage,” said Joseph Saffire, Chief Executive Officer. “During Andy’s more than twenty-four year career with us, Andy was instrumental in helping us successfully grow and scale into the national presence we have today across 37 states with over 1,100 properties. Through that time, Andy has built a strong finance team and foundation that has positioned Life Storage financially for a stable future and ongoing success for our shareholders. We are fortunate to have benefitted from Andy’s guidance, insight and knowledge and are appreciative of his role in assisting us with this transition.”

Mr. Saffire added, “Alex has been a fantastic addition and a great fit to the Life Storage team since he joined us about one year ago. Alex’s strong international banking background and experience in capital markets, corporate strategy, and real estate makes him uniquely suited to help Life Storage achieve its next level of success. The management team and I look forward to working closely with Alex and his ongoing contributions to our growing platform.”

Mr. Gress started his career at Price Waterhouse LLP in New York City. Following that Mr. Gress held senior and team leadership roles in capital markets with JPMorgan and Lehman Brothers in London and in venture capital in Toronto. Prior to joining Life Storage, Mr. Gress most recently served as Executive Vice President and CFO of the Hamister Group, a privately held real estate investment platform.

ABOUT LIFE STORAGE, INC:

Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. Located in Buffalo, New York, the Company operates more than 1,100 storage facilities in 37 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to approximately 675,000 customers, making it a leader in the industry. For more information visit http://invest.lifestorage.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025006081/en/

Life Storage, Inc.

Alex Gress

(716) 295-6833

agress@lifestorage.com

Source: Life Storage, Inc.

FAQ

Who is the new Chief Financial Officer of Life Storage, Inc. (LSI)?

Alexander Gress has been promoted to Chief Financial Officer of Life Storage, Inc. (LSI).

When will Andrew Gregoire retire from Life Storage, Inc. (LSI)?

Andrew Gregoire will retire as Chief Financial Officer on January 2, 2023.

What experience does Alexander Gress have before joining Life Storage, Inc. (LSI)?

Before joining Life Storage, Alexander Gress held senior roles in capital markets with JPMorgan and Lehman Brothers.

What impact did Andrew Gregoire have at Life Storage, Inc. (LSI)?

Andrew Gregoire was instrumental in growing Life Storage into a national presence with 1,100 properties across 37 states.