Tanger Shifts Board Leadership as Founder Steps Down After Four Decades
Event summary
- Steven Tanger, who led the company for 40 years, will retire as Chair and become Chair Emeritus on May 8, 2026.
- Luis Ubiñas, an independent director since 2019, will succeed him as Non-Executive Chair.
- Bridget Ryan-Berman steps down as Lead Independent Director but remains on the Board.
- Tanger operates 38 outlet centers and three open-air lifestyle centers across 22 U.S. states and Canada.
The big picture
Tanger's leadership transition marks the end of an era for the retail REIT, as founder Steven Tanger steps back after decades of growth. The shift to Luis Ubiñas, with his extensive board experience at AT&T and EA, signals a potential pivot towards more strategic, long-term planning. This move comes amid broader industry challenges in retail real estate, where outlet centers must adapt to changing consumer behaviors and digital disruption.
What we're watching
- Strategic Vision
- How Luis Ubiñas' background in media and governance will shape Tanger's long-term strategy.
- Execution Risk
- Whether the new leadership can sustain growth amid evolving retail trends.
- Governance Dynamics
- The pace at which Ubiñas integrates his experience from AT&T and EA into Tanger's operations.