Public Storage Announces Hiring of David Lee as Chief Operating Officer

Rhea-AI Summary

Public Storage (NYSE:PSA) has announced the appointment of David Lee as Chief Operating Officer. With over 20 years of leadership experience, Lee previously worked at The UPS Store, overseeing operations for over 5,200 locations in the U.S. and Canada. His focus on innovation and employee engagement aligns with Public Storage's strategic goals across its 2,700 properties and 1.7 million customers. CEO Joe Russell expressed confidence in Lee’s leadership, emphasizing the company's transformation through end-to-end digitization.

Positive

• David Lee brings over 20 years of operations leadership experience to Public Storage.
• Lee's experience includes leading operational strategies for over 5,200 locations at The UPS Store.
• Public Storage is focusing on end-to-end digitization to enhance customer experience.

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• None.

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA) announced today that David Lee has joined the Company as Chief Operating Officer.

Mr. Lee brings more than 20 years of operations leadership to Public Storage. Prior to joining, he served as Senior Vice President of Operations at The UPS Store where he led operational and team engagement strategy across more than 5,200 retail locations in the U.S. and Canada. Mr. Lee’s focus on innovation and advancing The UPS Store operating model, employee satisfaction, and customer experience will be directly complementary as he leads operations across Public Storage’s nearly 2,700 properties and 1.7 million self-storage customers.

“We are excited about the proven success, leadership, and character that David brings to the Public Storage team,” said Joe Russell, Public Storage’s Chief Executive Officer. “He is now actively engaged with our operations team across the country while also bringing fresh perspectives and strategies as part of the executive team. Public Storage and our stakeholders will be well-served by David’s leadership into the future.”

“Public Storage is a proven real estate industry leader,” said Mr. Lee. “The Company is transforming its operating model as it pioneers end-to-end digitization across the self-storage customer journey. I am honored to work alongside leaders throughout the Company as we further innovate and advance our operating strategies to meet an ever-growing customer base, while continuing to enhance employee growth and engagement within Public Storage.”

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2021, we had: (i) interests in 2,678 self-storage facilities located in 39 states with approximately 186 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self-Storage SA (Euronext Brussels:SHUR) which owned 247 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2021. Our headquarters are located in Glendale, California.

Additional information about Public Storage is available on the Company’s website at PublicStorage.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005939/en/

Contact: Ryan Burke

(818) 244-8080, Ext. 1141

Source: Public Storage

FAQ

Who is the new COO of Public Storage?

David Lee has been appointed as the new Chief Operating Officer of Public Storage.

What experience does David Lee bring to Public Storage?

David Lee has over 20 years of operations leadership experience, including a previous role at The UPS Store.

How many properties does Public Storage operate?

Public Storage operates nearly 2,700 properties across the United States.

What is the stock symbol for Public Storage?

The stock symbol for Public Storage is PSA.

What is the focus of Public Storage's digital transformation?

Public Storage is pioneering end-to-end digitization across the self-storage customer journey.

What are the future goals for Public Storage under David Lee?

David Lee aims to innovate and advance operating strategies while enhancing employee engagement.