Each month, Nareit highlights recent executive career moves, board changes, and other notable individual achievements within the REIT and publicly listed real estate market.
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Extra Space Storage Inc. (NYSE:EXR) announced the planned succession for its Executive Vice President and CFO P. Scott Stubbs, who will retire on Dec. 31. Stubbs has spent 25 years in various roles with Extra Space Storage, most recently as the CFO since 2011. Extra Space said Stubbs has been instrumental in the company's success over the past decades as an integral member of the management team that has grown the company from fewer than 100 stores to more than 4,000 locations today.
Jeff Norman, the company's current senior vice president of capital markets and treasury, has been selected to succeed Stubbs as executive vice president, CFO. Norman will assume the responsibilities of CFO beginning July 1. Stubbs will remain a member of the company's executive committee until his retirement, and he will continue to work closely with Norman and the company's finance and accounting functions through the end of the year. Norman has been with Extra Space since 2012.
Paramount Group, Inc. (NYSE: PGRE) said it has initiated a review and evaluation of strategic alternatives to maximize shareholder value. The company also announced that Ermelinda Berberi, who has served as senior vice president, chief accounting officer since 2017, has been appointed executive vice president, CFO, and treasurer. In addition, Timothy Dembo, who has served as vice president, counsel since 2022, has been appointed senior vice president, general counsel, and secretary. Berberi succeeds Wilbur Paes, and Dembo succeeds Gage Johnson, both of whom are stepping down from their respective roles as COO, CFO, and treasurer and senior vice president, general counsel, and secretary.
Prologis, Inc. (NYSE: PLD) announced that Sarah Slusser was elected to its board of directors at the company's annual stockholder meeting on May 8. Slusser will serve on the board's Governance and Nomination committee.
Slusser is the CEO of Cypress Creek Renewables LLC. She brings more than three decades of leadership experience across the energy sector, including roles in renewable development, corporate M&A, and executive management, Prologis said.