GREENSBORO, N.C., June 4, 2019 /PRNewswire/ -- Tanger Factory
Outlet Centers, Inc. (NYSE: SKT) announced today that Thomas E. McDonough, the Company's President and
Chief Operating Officer, informed the Company of his intent to
retire, effective December 31, 2019.
The Company has retained a leading global search firm to assist in
filling the position and further augment its management team as
part of its ongoing succession planning.
"I want to acknowledge and thank Tom for his many contributions
at Tanger over the nine years he was part of the team, and we wish
him all the best," said Steven B.
Tanger, Chief Executive Officer. "We are taking this
opportunity to evaluate and determine the best characteristics and
experience that will help us to effectively navigate this
ever-changing retail landscape. Tanger is continuing to
evolve. We have a history of successful transformations and a
willingness to innovate and reinvent our business. We believe
we now have the opportunity to enhance our leadership team, adding
fresh outside perspective to further strengthen the business."
Safe Harbor Statement
This news release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The Company intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995 and includes this statement for purposes of complying
with the safe harbor provisions. These forward-looking statements
include statements regarding the Company's efforts to fill Mr.
McDonough's position, enhance its leadership team, and strengthen
its business.
You should not rely on forward-looking statements because they
involve known and unknown risks, uncertainties and other important
factors that are, in some cases, beyond our control and that could
materially affect our actual results, performance or achievements.
Important factors that may cause actual results to differ
materially from current expectations include, but are not limited
to: risks associated with attracting and retaining key personnel
and the other important factors set forth under Item 1A - "Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended December 31, 2018, as may be
updated or supplemented in the Company's Quarterly Reports on Form
10-Q and the Company's other filings with the Securities and
Exchange Commission ("SEC"). Accordingly, there is no assurance
that the Company's expectations will be realized. The Company
disclaims any intention or obligation to update the forward-looking
statements, whether as a result of new information, future events
or otherwise.
About Tanger Factory Outlet Centers, Inc.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a
publicly-traded REIT headquartered in Greensboro, North Carolina that operates and
owns, or has an ownership interest in, a portfolio of 40 upscale
outlet shopping centers. Tanger's operating properties are located
in 20 states coast to coast and in Canada, totaling approximately 14.4 million
square feet leased to over 2,900 stores operated by more than 510
different brand name companies. The Company has more than 38
years of experience in the outlet industry. Tanger Outlet
Centers continue to attract more than 181 million shoppers
annually. Tanger is furnishing a Form 8-K with the Securities
and Exchange Commission. For more information on Tanger
Outlet Centers, call 1-800-4TANGER or visit the Company's web site
at www.tangeroutlets.com.
Investor
Contact:
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Cyndi Holt
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Jim
Williams
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VP, Investor
Relations
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EVP &
CFO
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336-834-6892
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336-834-6800
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cyndi.holt@tangeroutlets.com
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jim.williams@tangeroutlets.com
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Media
Contact:
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Quentin
Pell
|
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VP, Corporate
Communications
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336-834-6827
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quentin.pell@tangeroutlets.com
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SOURCE Tanger Factory Outlet Centers, Inc.