Financial Services >> CEO Interviews >> June 26, 2000
STEVEN B. TANGER is the President, Chief Executive Officer, and a Director of
Tanger Factory Outlet Centers, Inc. His responsibilities include supervision of,
and hands-on involvement in long-term strategic planning, investor relations,
capital markets, site selection, land and shopping center acquisition, project
development, leasing and construction. While carrying forth an 85-year tradition
of family-owned businesses, Mr. Tanger is putting his own signature on Tanger
Factory Outlet Center's future. Mr. Tanger and his father, Stanley K. Tanger,
who originally founded the firm in 1981, successfully completed an initial
public offering of the first factory outlet real estate investment trust listed
on the New York Stock Exchange on June 4, 1993. His involvement was pivotal in
the realization of the Tangers' initial public offering. His grandfather, Moe
Tanger, founded Tanger-Creighton, Inc., in 1918. Stanley Tanger took over the
business in 1948 and guided it through another three decades of growth. Steven
joined Tanger-Creighton in 1970, immediately after completing college. During
the next 10 years, he had the unique opportunity of working with both his father
and grandfather. While at Tanger-Creighton, he rose to the position of Executive
Vice President and Director. Mr. Tanger also served on the Board of Directors
for National Student Marketing, Inc., from 1972 to 1980. After the sale of the
company in 1980, he founded S.B. Tanger & Company, an investment banking firm
specializing in real estate syndication and venture capital. In 1986, Steven and
Stanley Tanger joined forces once again, with Steven as the company's fourth
employee. At that time, the company had seven centers in six states totaling
approximately 344,000 square feet. For more than 28 years, Steven and Stanley
have expanded Tanger Outlet Centers to 33 centers in 22 states totaling
approximately 10.2 million square feet. The company now has over 450 employees.
In 1994, Tanger Factory Outlet Centers was awarded the Value Retail News "Award
of Excellence" for Outlet Development, signifying the company's position as the
industry's leading developer. In addition, Mr. Tanger was recently featured on
the CBC program Money Talk, and he speaks extensively to REIT and real estate
industry organizations across the country. Mr. Tanger is a member of the Urban
Land Institute, the Real Estate Roundtable, formerly a Director of Southampton
Hospital, Treasurer and Governor of the Harmonie Club of New York, a member of
the Board of Governors of the National Association of Real Estate Investment
Trusts, and a member of the Board of Governors for the National Association of
Corporate Directors New York Chapter. In 1994 and 1995, Mr. Tanger received the
Excalibur Award from the American Cancer Society. In 1996, he was presented with
the Lifetime Excalibur Award for his effort in the fight against breast cancer. Profile
Tanger Factory Outlets?
Mr. Tanger: We started the business in 1981. Tanger Outlets is a fully
integrated,
