Financial Services >> CEO Interviews >> June 26, 2000

Steven Tanger – Tanger Factory Outlet Centers Inc (skt)

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
TWST: Could we start out with a little history and a quick overview of

Tanger Factory Outlets?

Mr. Tanger: We started the business in 1981. Tanger Outlets is a fully

integrated,