CEO Transition Notice: Joseph D. Russell Jr. announced his retirement as President & CEO of Public Storage effective March 31, 2026. H. Thomas Boyle, currently SVP and Chief Financial & Investment Officer, will succeed him as CEO on April 1, 2026.
Joseph D. Russell Jr. has served as President & CEO of Public Storage (NYSE: PSA) since January 2019. Under his leadership, Public Storage launched the transformative PS Business initiative, growing the company’s portfolio square footage by 37% and achieving record revenues of $4.7 billion in 2024. Russell announced his retirement effective March 31, 2026, with CFO H. Thomas Boyle succeeding him on April 1, 2026. Post-retirement, Russell will serve as a consultant at $400,000 per month through March 2027.
Read on to discover Public Storage CEO salary, Joseph Russell net worth in 2026, email address, career history, education, and more.
Joseph D. Russell Jr. – Quick Facts
| Joseph D. Russell Jr. — At a Glance | |
|---|---|
| Full Name | Joseph D. Russell Jr. |
| Position | President & CEO (retiring March 31, 2026) |
| Company | Public Storage (NYSE: PSA) |
| Age | ~65 (born c. 1960–1961) |
| Education | B.S., University of Southern California; MBA, Harvard Business School |
| Net Worth (Est.) | $18–44 million |
| 2024 Compensation | ~$9.5 million |
| CEO Since | January 2019 |
| Successor | H. Thomas Boyle (effective April 1, 2026) |
| Headquarters | Glendale, CA (relocating to Frisco, TX) |
Career Highlights
- PS Business Parks Leadership: Served as President & CEO of PS Business Parks, Inc. for 14 years (2002–2016), growing the commercial REIT subsidiary
- Public Storage Growth: Expanded portfolio square footage by 37% since becoming CEO in 2019
- Record Financial Performance: Achieved record revenues of $4.7 billion and record NOI of $3.4 billion in 2024
- Shareholder Returns: Five-year cumulative total shareholder return turned $100 invested into $174, outperforming NAREIT Equity Index ($118)
- Strategic Vision: Launched PS4.0 strategic initiative to position Public Storage for next-generation growth
- HQ Relocation: Initiated move of corporate headquarters from Glendale, CA to Frisco, TX
Joseph D. Russell Jr. Net Worth & Salary
CEO Compensation Breakdown
| Component | FY2024 Amount |
|---|---|
| Base Salary | $1,000,000 |
| Annual Bonus | $1,590,000 |
| Stock Options | $2,880,000 |
| Stock Awards | $4,010,000 |
| Total Compensation | ~$9,500,000 |
Joseph Russell’s estimated net worth is between $18 million and $44 million, based on his equity holdings in Public Storage. Post-retirement, he will serve as a consultant to the company at $400,000 per month through March 2027, representing an additional $4.8 million in consulting fees.
Key Insight: Russell’s successor, H. Thomas Boyle, will receive an annual base salary of $1 million, a target annual performance-based bonus of 200% of base salary, and a $10 million annual equity award — significantly higher total compensation than Russell’s package.
Public Storage Financial Summary
| Metric | FY2024 | FY2023 | YoY Change |
|---|---|---|---|
| Revenue | $4.70B | $4.52B | ▲ +3.9% |
| Net Income | $1.87B | $1.95B | ▼ -3.9% |
| Core FFO/Share | $16.67 | $15.89 | ▲ +4.9% |
| NOI | $3.4B | $3.2B | ▲ +6.3% |
| Market Cap | ~$50B | Largest self-storage REIT | |
| Properties | 3,300+ | Self-storage facilities | |
2025 Outlook: Public Storage’s TTM revenue through September 2025 was $4.79 billion, a 2.3% year-over-year increase. LA wildfire-related pricing restrictions are expected to impact Core FFO by approximately $0.23 per share in 2025.
Public Storage Competitors
Public Storage is the largest self-storage REIT in the United States. Its key competitors include:
- Extra Space Storage (NYSE: EXR) — Largest by managed portfolio after 2023 Life Storage merger; 4,200+ locations
- CubeSmart (NYSE: CUBE) — Premium-priced operator focused on high-barrier coastal markets; 1,500+ locations
- National Storage Affiliates Trust (NYSE: NSA) — Partnership-based self-storage REIT
- U-Haul / Amerco (NYSE: UHAL) — Major self-storage operator and moving company
- Life Storage — Acquired by Extra Space Storage for $12.7 billion in 2023
- StorageMart — Largest privately held self-storage company
How to Contact Joseph D. Russell Jr. – Public Storage CEO Email
Below are the official contact details for Public Storage’s executive office:
| Contact Information | |
|---|---|
| CEO Email Format | [email protected] |
| Corporate HQ | 701 Western Avenue, Glendale, CA 91201 (relocating to Frisco, TX) |
| Phone | (818) 244-8080 |
| Investor Relations | [email protected] |
| Website | publicstorage.com |
Career & Education – Company, University & College
Joseph D. Russell Jr. Career Timeline
| Period | Role | Organization |
|---|---|---|
| ~1983 | B.S. Degree | University of Southern California |
| ~1985 | MBA | Harvard Business School |
| 1990s | Officer (participated in 1993 IPO) | Spieker Properties |
| 2002–2016 | President & CEO | PS Business Parks, Inc. |
| Jul 2016 | President | Public Storage |
| Jan 2019 | President & CEO | Public Storage |
| Feb 2026 | Announced retirement (eff. March 31, 2026) | Public Storage |
| Apr 2026 | Consultant ($400K/month through March 2027) | Public Storage |
Education
| University | Degree |
|---|---|
| University of Southern California | Bachelor of Science |
| Harvard Business School | Master of Business Administration (MBA) |
Russell began his career in commercial real estate, spending more than a decade at Spieker Properties where he participated in the firm’s 1993 IPO as an officer. He then led PS Business Parks, Inc. as President & CEO for 14 years before transitioning to its larger sibling company, Public Storage.
Joseph D. Russell Jr. Wiki – Age, Family & More
Joseph D. Russell Jr. (age approximately 65) has led Public Storage since 2019 and keeps his personal life largely private. Limited information is available about his family. He is based in the Los Angeles, California area and has been instrumental in transforming Public Storage through the PS Business initiative, growing its square footage by 37% during his tenure.
Under Russell’s leadership, the company’s five-year cumulative total shareholder return turned every $100 invested into $174, significantly outperforming the NAREIT Equity Index benchmark of $118. He also initiated the relocation of Public Storage’s headquarters from Glendale, California to Frisco, Texas.
Incoming CEO: H. Thomas Boyle
H. Thomas Boyle (age 51) will become Public Storage’s CEO on April 1, 2026. Boyle holds a Bachelor of Arts in Economics from the University of Notre Dame. He spent over a decade at Morgan Stanley (2005–2016) before joining Public Storage in 2016 as Chief Financial Officer, Operations. He was promoted to CFO in 2019 and added the Chief Investment Officer title in 2023.
About Public Storage
Public Storage (NYSE: PSA) is the largest self-storage REIT in the United States and a member of the S&P 500 index. Founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr., the company has grown into a storage industry giant with over 3,300 facilities across 40 states.
| Company Detail | Information |
|---|---|
| Founded | 1972 |
| Founder | B. Wayne Hughes & Kenneth Volk Jr. |
| Headquarters | Glendale, CA (relocating to Frisco, TX in 2026) |
| Industry | Self-storage REIT |
| NYSE Ticker | PSA |
| Facilities | 3,300+ across 40 states |
| Revenue (FY2024) | $4.70 billion |
| Employees | ~5,800 |
Public Storage operates through two main segments: self-storage operations in the United States and its 35% equity interest in Shurgard Self Storage SA, which operates approximately 270 facilities across seven European countries. The company also owns PS Business Parks, Inc. through a merger completed in 2022.
Frequently Asked Questions (FAQ)
Who is the CEO of Public Storage?
As of March 2026, Joseph D. Russell Jr. is the President & CEO of Public Storage. He is retiring effective March 31, 2026, and H. Thomas Boyle will succeed him as CEO on April 1, 2026.
What is Joseph Russell’s net worth?
Joseph D. Russell Jr.’s estimated net worth is between $18 million and $44 million, based on his equity holdings in Public Storage.
How much does the Public Storage CEO earn?
Joseph Russell earned approximately $9.5 million in total compensation for FY2024, including a $1 million base salary, $1.59 million bonus, $2.88 million in stock options, and $4.01 million in stock awards.
What is Public Storage CEO’s email address?
The CEO email format at Public Storage is [email protected]. The corporate office can be reached at (818) 244-8080 or through the investor relations page at publicstorage.com.
How big is Public Storage?
Public Storage is the largest self-storage REIT in the United States with over 3,300 facilities across 40 states and FY2024 revenues of $4.70 billion. Under Russell’s leadership, the portfolio grew 37% in square footage.
Who is replacing Joseph Russell as CEO?
H. Thomas Boyle, currently SVP and Chief Financial & Investment Officer, will succeed Russell as CEO effective April 1, 2026. Boyle has been with Public Storage since 2016 and previously worked at Morgan Stanley.
Article last updated: March 5, 2026
Disclaimer: All information presented in this article has been compiled from publicly available sources, including SEC filings, official company press releases, and reputable news outlets. This content is provided for informational purposes only and does not constitute financial or investment advice.