# Kenneth M. Woolley

> Kenneth M. Woolley founded Extra Space Storage in 1977 and serves as its non-executive chairman. A former Boston Consulting Group consultant and BYU business professor with graduate degrees from Stanford, he reshaped the business with Spencer Kirk and Prudential in 1998, led it through its 2004 IPO, and stepped down as CEO in 2009.

- **Role:** Founder and Non-Executive Chairman at Extra Space Storage
- **Organizations:** Extra Space Storage, Brigham Young University, Boston Consulting Group, Nevada West Partners, Gaia Real Estate, Self Storage Association
- **Education:** B.A. in Physics, Brigham Young University, M.B.A. in Business Administration, Stanford Graduate School of Business, Ph.D. in Business Administration, Stanford Graduate School of Business
- **Known for:** Founded Extra Space Storage in 1977., Led the company through its 2004 IPO, raising $252.5 million gross., Built the 1998 partnership with Spencer Kirk and Prudential Real Estate Investors.

## Career timeline

- **1977** — Opened the first storage property, Secure-it Mini Storage, in Billings, Montana.
- **1979** — Extra Space Development Company formed; began the Orem development and his BYU teaching career.
- **1979-1998** — Taught corporate strategy and real estate at BYU as associate professor and later adjunct associate professor.
- **1983-1989** — Acted as a preferred developer for Public Storage.
- **1998** — Partnered with Spencer Kirk and recapitalized with Prudential Real Estate Investors; pursued a buy-and-hold portfolio strategy.
- **2004** — Led Extra Space Storage to its August 20 NYSE listing.
- **2005** — Extra Space and Prudential acquired Storage USA from GE in a $2.3 billion transaction.
- **2009** — Stepped down as chairman and CEO effective April 1 for a three-year church mission; remained a director.
- **2012** — Returned as executive chairman in July and became chief investment officer, serving in the latter role until July 2013.
- **2014** — Inducted into the Self Storage Hall of Fame.
- **2018** — Became non-executive chairman in May.
- **2026** — As chairman, endorsed the announced succession of Noah Springer to CEO effective January 1, 2027.

## Achievements

- Founded Extra Space Storage in 1977.
- Led the company through its 2004 IPO, raising $252.5 million gross.
- Built the 1998 partnership with Spencer Kirk and Prudential Real Estate Investors.
- Inducted into the Self Storage Hall of Fame in 2014.

## Latest updates

- **2026-08** — Extra Space announced Noah Springer would succeed Joe Margolis as CEO on January 1, 2027. Woolley endorsed Springer as founder and chairman; the company reported 4,410 stores as of June 30, 2026.
- **2026-02** — Appeared on Stories Behind the Door to discuss storage history, partnerships and the current development and investment market.

## Links

- Website: https://www.extraspace.com/
- LinkedIn: https://www.linkedin.com/in/kenneth-woolley-0b73b02/

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Published by YesPress — https://yespress.io
Last updated: 2026-10-21