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Public Storage Reveals Management Changes, Releases Q1 Results

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Glendale, CA-based Ronald L. Havner Jr., chairman and CEO of Public Storage recently revealed two management changes and revealed operating results for the company’s first quarter of 2018.

Natalia N. Johnson has been promoted to Senior Vice President, Chief Human Resources Officer. Natalia joined Public Storage in 2016 with over 18 years of broad-based leadership experience, having held senior management positions in human resources, technology and operations at Bank of America, Countrywide Financial and Coca-Cola. In her human resources roles, she was responsible for strategy and execution for talent acquisition and management, organizational and leadership development, compensation planning, employee relations and human resources information systems.

Clemente Teng, Vice President of Investor Services, will be retiring in May after 13 years with the Company. Ryan C. Burke, who has joined Public Storage as Vice President of Investor Services, will assume Teng’s role as the primary contact with investors and shareholders of the Company and its affiliates. Burke has nearly 15 years of experience in the consulting, investment banking and equity research arenas. Most recently, he was a Senior Analyst at Green Street Advisors where he led the firm’s coverage of the self-storage sector.

Havner said, “Natalia’s multi-faceted experience will position her well for continued success at Public Storage. We are grateful to Clem for his meaningful contributions and commitment to the Company and wish him all the best in his well-deserved retirement. We welcome Ryan to the Public Storage team.”

At March 31, 2018, the company had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand.

The company’s Q1 report showed that for the three months ended March 31, 2018, net income allocable to common shareholders was $287.8 million or $1.65 per diluted common share, compared to $281.1 million or $1.62 per diluted common share in 2017 representing an increase of $6.7 million or $0.03 per diluted common share.