Margolis, who joined the company in 1998 and took the CEO role in 2017, leaves behind a period of rapid expansion. During his tenure, the company’s market capitalization surged from $9 billion to $30 billion, while its rentable square footage grew from 100 million to over 340 million. Following his retirement, he will transition into an advisory role to the Board to assist with the handover.
Springer represents a homegrown choice for the top position. Since joining in 2006, he has climbed through the ranks, most recently overseeing the Management Plus platform—now the largest third-party management system in the storage sector with nearly 2,000 locations. Chairman and founder Ken Woolley credited Margolis with building the deepest leadership bench in the industry, noting that Springer is uniquely prepared to continue the company's growth strategy. The transition will become effective on January 1, 2027.
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