- Push-out Score determined
- After seven years in the position
- Praise and thanks for Rogers
- Rogers spoke at length and said 76 words
(exechange) — Buffalo, New York, September 12, 2018 — Dave Rogers, chief executive of Life Storage, hands over the reins. As announced by Life Storage, Inc. in a news release and in a regulatory filing published on Wednesday, September 12, 2018, David L. (Dave) Rogers leaves his post as Chief Executive Officer at the self storage company after seven years in the role, effective March 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.1 years, according to data compiled by exechange.
Rogers’s duties will be taken over by Joseph V. (Joe) Saffire, currently Chief Investment Officer of Life Storage, Inc.
No reason given
In the announcement, Life Storage did not explicitly explain the reason for Rogers’s move.
Precise information about Rogers’s future plans was not immediately available.
Life Storage said: “Life Storage, Inc. … announced today that it will promote the Company’s Chief Investment Officer Joseph Saffire to Chief Executive Officer upon the retirement of current CEO David Rogers, effective March 1, 2019.”
Life Storage further said: “David L. Rogers, the Chief Executive Officer of the Company, will retire effective March 1, 2019.”
Share price rise since August 2017
The change follows a rise in the share price of Life Storage, Inc. since August 2017.
Chaired by Mark Barberio
Life Storage, Inc. is chaired by Mark Barberio.
In the position of CEO since 2012
David L. Rogers has been the Chief Executive Officer of Life Storage, Inc. since March 1, 2012 and its Director since March 19, 2018.
Rogers, a co-founder of the Company, serves as the Company’s Chief Executive Officer, a position he has held since 2012.
Before assuming his current role, Rogers served as the Company’s Chief Financial Officer and Secretary from 1995 to February 2012, Vice President of Finance of the Company’s predecessor from 1988 to 1995 and Controller and Due Diligence Officer of such predecessor from 1984 to 1988.
Prior to joining the Company, Rogers spent seven years as an accountant and systems analyst in both the public and private sectors.
He serves on the Board of Advisors of the National Association of Real Estate Trusts (“NAREIT”) and is a regular presenter at national and regional meetings of the Self Storage Association.
Rogers will continue to serve on the Company’s Board of Directors.
Push-out Score determined
Read the full story in the exechange report 39.2018 ($).