GREENSBORO, N.C., April 29, 2020 /PRNewswire/ -- Tanger
Factory Outlet Centers, Inc. (NYSE: SKT) announced today that its
Board of Directors has finalized a contract amendment and extension
through January 1, 2024 for
Steven B. Tanger, Chief Executive
Officer. Effective January 1, 2021,
Mr. Tanger will become the Company's Executive Chair and will be
succeeded in the CEO role by Stephen J.
Yalof, who joined Tanger as President and Chief Operating
Officer in early April.
"The extension of Steve's contract and his transition to the
Executive Chair role, along with the hiring of Stephen Yalof, accomplish the Board's objective
of thoughtfully executing an orderly leadership succession plan.
For the past 11 years, Steve
Tanger's incredible vision, leadership and passion have
strengthened our portfolio and grown it by 40%, created a strong
and flexible balance sheet, deepened our relationships with our
tenant partners and motivated and inspired our team of dedicated
associates. We look forward to his continued association with the
Company, where his experience, talents and judgement will continue
to guide the Company to create value," said David B. Henry, Non-Executive Chair, who will
become Lead Independent Director on January
1, 2021.
"It has been a privilege to lead a remarkable company and work
with such a devoted team and Board. With an exemplary leadership
track record in the outlet industry and the unique perspective of
having been both a tenant and a landlord, Steve Yalof is my ideal successor as Tanger CEO.
I look forward to working together to capitalize on the challenges
of today's retail environment to turn them into opportunities. I am
honored to continue to serve as Executive Chair of a Company with
exciting prospects for the future," said Mr. Tanger.
About Tanger Factory Outlet Centers, Inc.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT), is
a publicly-traded REIT headquartered in Greensboro, North Carolina that presently
operates and owns, or has an ownership interest in, a portfolio of
39 upscale outlet shopping centers. Tanger's operating
properties are located in 20 states and in Canada, totaling approximately 14.3 million
square feet, leased to over 2,800 stores which are operated
by more than 510 different brand name companies. The
Company has more than 39 years of experience in the outlet
industry. Tanger Outlet Centers continue to attract more than 181
million visitors annually. For more information on Tanger Outlet
Centers, call 1-800-4TANGER or visit the Company's website
at www.tangeroutlets.com.
Investor Contact
Information
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Media Contact
Information
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|
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Cyndi Holt
|
Quentin
Pell
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VP, Investor
Relations
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VP, Corporate
Communications & Enterprise Risk Management
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336-834-6892
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336-834-6827
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Cyndi.holt@tangeroutlets.com
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Quentin.pell@tangeroutlets.com
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SOURCE Tanger Factory Outlet Centers, Inc.