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Sovran Self Storage Announces Executive Leadership Changes, Board Appointments

Real estate investment trust (REIT) Sovran Self Storage Inc., which operates the Uncle Bob’s Self Storage brand, announced several changes to positions within its leadership, including its chief investment and operating officers. The company has also appointed two independent members to its board of directors.

January 22, 2015

3 Min Read
Sovran Self Storage Announces Executive Leadership Changes, Board Appointments

Real estate investment trust (REIT) Sovran Self Storage Inc., which operates the Uncle Bob’s Self Storage brand, announced several changes to positions within its leadership, including its chief investment and operating officers. The company has also appointed two independent members to its board of directors.

Paul T. Powell is now chief investment officer, responsible for the acquisition, disposition and development of Sovran’s self-storage assets. Powell has been with the REIT since 1997 and most recently served as executive vice president of real estate investment. Prior to joining Sovran, he was director of storage operations for a Virginia-based self-storage business.

Edward F. Killeen was promoted to chief operating officer. Killeen also joined Sovran in 1997 and has held a number of positions in property management, marketing and operations. He most recently served as executive vice president of real estate management. Prior to joining the company, Killeen was a senior executive with a multi-state apparel retailer.

Robert J. Attea, executive chairman, will advise Powell and work with other senior executives on corporate strategy, company officials said in a press release. Kenneth F. Myszka, president, will advise Killeen and work with the executive team.

The changes are part of an organized succession plan approved by the board of directors. Attea’s and Myszka’s contracts were modified as part of the plan, and both will continue to serve on the board, according to the release.

“Paul and Ed are key members of our management team and are well prepared for their more senior roles,” said David Rogers, CEO. “Further, we’re fortunate to have the experience and counsel of Bob and Ken in the coming years. Each has over 30 years in the self-storage business and offers a wealth of knowledge to all of us.”

In another move, Sovran appointed two independent members to its board of directors. Mark G. Barberio and Arthur L. Havener have joined the board and will stand for election on a one-year term in May during the company’s Annual Meeting of Shareholders, officials said.

“We’re pleased to have Mark and Art join our company,” Attea said. “They each bring a depth of experience and knowledge in their respective areas of expertise, and complement the skills of our existing directors.”

Havener is principal at Stampede Capital LLC, which provides real estate consulting support to publicly traded REITs and institutional investors. Prior to forming Stampede, he was a vice president at A.G. Edwards & Sons Inc., where he also served as head of real estate research from 2002 to 2007. Havener also serves on the board of trustees of Boardwalk REIT and was recently an alderman and chair of the finance committee for the city of Sunset Hills, Mo.

Barberio is principal at Markapital LLC, a business and mergers-and-acquisitions consulting firm. Prior to forming Markapital, Barberio was with Mark IV LLC (now Dayco LLC), a global diversified manufacturing company, from 1985 to 2013. He served in a variety of positions at Mark IV, most recently as co-CEO and CFO. He also serves on the boards of RWP Energy and Buffalo Angels LLC, and is a member of the National Association of Corporate Directors.

Buffalo, N.Y.-based Sovran operates more than 500 self-storage facilities in 25 states. The company ranked No. 5 on the Inside Self-Storage 2014 Top-Operators List.

Sources:

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