CubeSmart CEO plans to step down

WAYNE, Pa. -- The CEO of self-storage company CubeSmart will retire when his employment agreement ends next year. The company did not announce a replacement Friday.

CEO Dean Jernigan will also give up his position on the board when he leaves on Dec. 31, 2013. He has been CEO since 2006; a regulatory filing in April said he was 66.

The Pennsylvania company also announced that Christopher Marr, president and chief investment officer, will take on the additional job of chief operating officer. Jernigan said he would work closely with Marr over the next year and a half. A company spokesman declined to comment on whether Marr would be the new CEO.

CubeSmart is a real estate investment trust that owns or manages self-storage facilities around the country.