GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage, Inc. (NYSE:PSA) announced that Robert J. Abernethy will retire from the Board of Directors of Public Storage, Inc., effective January 1, 2007. Mr. Abernethy has been a member of the Public Storage Board since 1980 and has also served on the Board’s Audit and Compensation Committees.
“On behalf of the Board of Directors and our employees, we wish to express our deep appreciation to Bob Abernethy for his many years of dedicated service on the Public Storage Board,” said Ronald L. Havner, Jr., President and Chief Executive Officer of Public Storage. “Bob joined the Board in 1980 as the company was being formed and went public with a $30 million initial public offering. Today, Public Storage is the world’s largest owner and operator of self-storage space with a market capitalization of $20 billion. As an industry veteran, Bob Abernethy helped guide and transform the company through this period of dynamic growth while we built long term value for our stockholders. We have benefited greatly during these critical growth years from his extensive business experience, insight and leadership on the Board, and we wish him well in his future endeavors.”
Public Storage, Inc., a member of the S&P 500 and the Forbes Global 2000, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates storage facilities. The Company’s headquarters are located in Glendale, California. The Company’s storage properties are located in 38 states and seven European nations. At September 30, 2006, the Company had interests in 2,003 storage facilities with approximately 126.4 million net rentable square feet in the United States and 160 storage facilities with approximately 8.4 million net rentable square feet in Europe.
Additional information about Public Storage, Inc. is available on the Internet. The Company’s web site is www.publicstorage.com.