David Rogers, the Life Storage CEO who has guided the Amherst-based self storage business as it has roughly doubled in size, plans to retire next March.
Rogers, who has worked at Life Storage in various positions over the past 35 years and was one of the company’s co-founders, will be replaced by Joseph Saffire.
Saffire, a former First Niagara Bank executive vice president, has been with Life Storage for less than a year. He joined the company as its chief investment officer in November after a banking career that spanned more than 20 years with HSBC Bank and Wells Fargo Bank.
“He brings a wealth of leadership, relationship, real estate and capital markets skills to the position,” said Mark Barberio, Life Storage’s chairman, in a statement Thursday. “He has been a great fit since joining us last year.”
Rogers, 63, took over as Life Storage’s CEO in 2012 after serving as its chief financial officer for 17 years.
Under Rogers, Life Storage grew rapidly, nearly doubling its revenues from 2013 to 2017, while its funds from operations – a closely watched measure of profitability for real estate investment trusts – also nearly doubled.
Life Storage is one of the nation’s largest operators of self storage facilities. It operates more than 700 facilities in 28 states, mostly in the eastern half of the country.