GLENDALE, Calif.--(BUSINESS WIRE)--
Public Storage (NYSE:PSA) announced today that Harvey Lenkin has retired
from the Board of Trustees of Public Storage effective January 3, 2011
after nearly 20 years of service on the Board. Mr. Lenkin also served in
a wide variety of executive positions with the Company from 1978 until
his retirement as President in 2005.
“Harvey joined Public Storage in 1978 at a time when we operated just 36
self-storage facilities and later was named President and a member of
the Board in 1991. During his 32 years of service in management and on
the Board, Harvey was a key contributor in building Public Storage into
the world's largest self-storage company, with over 2,000 self-storage
facilities, more than 4,900 employees and a market capitalization of
over $20 billion," said Ronald L. Havner, Jr., President and Chief
Executive Officer of Public Storage.
Harvey was a multi-talented executive and an incredible fund-raiser at a
time when the Company needed capital to grow. He quickly became the face
of Public Storage on Wall Street. His many significant contributions to
the success of Public Storage include: the completion of our first
preferred stock issuance in 1992, his laying the foundation for our
affiliated company, PS Business Parks, to become a public company in
1998 and consummation of the merger with Shurgard in 2005. After
retiring from management, Harvey continued to share his counsel and deep
knowledge of the self-storage business with the Board.
Harvey has been a trusted advisor to the Company and the Board for many
years and a major contributor to the present-day success of the Company.
We wish Harvey the best in his retirement from the Board. We will miss
his insight and counsel, his deep knowledge of the self-storage business
and the leadership he provided to the Board.
Company Information
Public Storage, a member of the S&P 500, The Forbes Global 2000 and FT
Global 500, is a fully integrated, self-administered and self-managed
real estate investment trust that primarily acquires, develops, owns and
operates self-storage facilities. The Company’s headquarters are located
in Glendale, California. At September 30, 2010, the Company had
interests in 2,044 self-storage facilities located in 38 states with
approximately 129 million net rentable square feet in the United States
and 189 storage facilities located in seven Western European nations
with approximately ten million net rentable square feet operated under
the “Shurgard” brand. The Company also owns a 41% common equity interest
in PS Business Parks, Inc. (NYSE:PSB) which owned and operated
approximately 21 million rentable square feet of commercial space,
primarily flex, multi-tenant office and industrial space, at September
30, 2010.
Additional information about Public Storage is available on the
Internet. The Company’s web site is www.publicstorage.com.
Source: Public Storage
Contact:
Public Storage
Clemente Teng
(818) 244-8080, Ext. 1141