Public Storage Announces Leadership Transition and Strategic Vision PS4.0

Summary

On February 10, 2026, Public Storage announced a series of leadership transitions to launch its new strategic vision, PS4.0. H. Thomas Boyle will succeed Joseph D. Russell, Jr. as CEO effective April 1, 2026. Shankh S. Mitra will become non-executive Chairman, and Joe Fisher will join as President and CFO. Additionally, Natalia N. Johnson and Chris C. Sambar were promoted to Chief Digital & Transformation Officer and Chief Operating Officer, respectively. The company also announced a relocation of its headquarters to Frisco, Texas. Shankh Mitra and Ronald L. Havner invested $25 million and $5 million, respectively, in out-of-the-money options to support the new leadership team.