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Self-Storage REIT Extra Space Announces Changes to Executive Team

Extra Space Storage Inc., a publicly traded self-storage real estate investment trust (REIT) and third-party management firm, announced changes to its executive team. James Overturf, who’s retiring from his position as executive vice president and chief marketing officer, will be succeeded by Samrat Sondhi, who currently serves as executive vice president and chief operations officer (COO). Matthew Herrington, senior vice president of operations, will be promoted to COO, according to a press release.

Overturf has worked for Extra Space in various roles for 21 years. Upon retirement, he plans to devote attention to his family and philanthropic endeavors, the release stated. “We congratulate James on his retirement and thank him for his contribution to Extra Space's success for over 20 years,” said CEO Joe Margolis. “James has been a significant part of our company's evolution and growth, and a key member of our executive team.”

Sondhi has been with the company since January 2003, serving in various positions such as senior vice president of revenue management, in which he played a key role in the evolution of the company's pricing strategy. Prior to joining Extra Space, Sondhi served for two years as vice president of revenue management for Storage USA, which was purchased by Extra Space in 2005. He earned a bachelor’s degree from Savitribai Phule Pune University in India and a Master of Business Administration from Carnegie Mellon University.

“We are excited to have Samrat Sondhi assume management and continue to lead our best-in-class data-science, digital-marketing, revenue-management and technology teams,” Margolis said. “Samrat was the architect of our revenue-management system, and we know that he will continue to lead our data-driven strategy and enhance the technological innovation expected from Extra Space.”

As senior vice president of operations for five years, Herrington has been responsible for operations in the Western United States, including approximately 900 locations. He’s been with the REIT since 2007, serving in various roles including divisional vice president and senior district manager. He earned a bachelor’s degree from the University of Nebraska at Kearney and a Master of Science from Baker University.

“We are excited to add Matt Herrington to the executive team. Matt has made a significant contribution to our operational growth and success, and he is well-prepared to make a smooth transition into the chief operations officer role,” Margolis said. “Matt is a perfect example of the deep leadership bench we have developed at Extra Space, and the ability it provides us to promote proven leaders from within.”

Headquartered in Salt Lake City, Extra Space owns or operates 1,817 self-storage properties in 40 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 1.3 million units and 140 million square feet of rentable space.

Sources:
Extra Space Storage, Extra Space Storage Announces Executive Leadership Transition
CP Executive, Extra Space Storage Promotes 2 Executives

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