Extra Space Storage CFO P. Scott Stubbs to Retire, Jeff Norman Appointed Successor
- Extra Space Storage's CFO, P. Scott Stubbs, will retire on December 31, 2025, after 25 years with the company.
- Jeff Norman has been appointed as the new CFO, transitioning on July 1, 2025, ensuring continuity in leadership.
- Extra Space Storage remains committed to sustainability, aiming to enhance efficiency while reducing environmental impact during the transition.
Extra Space Storage Prepares for Leadership Transition as CFO Announces Retirement
Extra Space Storage Inc. announces the retirement of its long-serving Chief Financial Officer, P. Scott Stubbs, effective December 31, 2025, after an impressive 25-year tenure with the company. Stubbs has been instrumental in the company’s growth trajectory, leading it through a significant expansion from fewer than 100 locations to over 4,000. His leadership over the past 14 years as CFO since 2011 has seen Extra Space Storage solidify its position as a leader in the self-storage industry, navigating various market challenges while enhancing financial performance.
The Board of Directors has appointed Jeff Norman, the current Senior Vice President of Capital Markets and Treasury, as Stubbs' successor. Norman’s transition to CFO is set to take place on July 1, 2025, allowing for a structured handover period. Having been with Extra Space since 2012 and a member of the senior management team since 2014, Norman brings a wealth of experience to the role. His past positions have included Director of Financing and Vice President of Investor Relations, where he played a vital role in establishing the company's bridge lending platform, Extra Space Capital, and contributing to its sustainability initiatives.
As Stubbs prepares for his retirement, he remains committed to ensuring a smooth transition by working closely with Norman and the finance and accounting departments. The company expresses its gratitude for Stubbs’ contributions, acknowledging his critical role in shaping Extra Space Storage's financial strategies and overall success. This leadership change marks a significant moment for the company as it continues to focus on growth and innovation within the self-storage sector.
In related developments, Extra Space Storage continues to emphasize its commitment to sustainability, reflecting a growing trend within the industry. The company’s initiatives, which have gained traction under both Stubbs and Norman, aim to enhance operational efficiency while reducing environmental impact. As the self-storage market evolves, the leadership transition is poised to maintain the momentum toward sustainable practices that resonate with consumers and investors alike.
Furthermore, the solid foundation laid by Stubbs and the strategic vision of Norman are expected to guide Extra Space Storage through future challenges and opportunities in the competitive landscape of self-storage. The company looks forward to leveraging its established expertise while integrating new strategies that align with modern market demands.