Tanger Inc. (NYSE: SKT) announced leadership changes to its board of directors that will take effect at the company's annual shareholder meeting on May 8, 2026.

Steven B. Tanger will retire as chair of the board and assume the role of chair emeritus after 40 years with the company. Luis Ubiñas, currently an independent director, will succeed him as non-executive chair. Bridget Ryan-Berman will conclude her service as lead independent director while continuing as a board member.

Tanger served as the company's chief executive officer from 2009 to 2020 and has been board chair since January 2021. During his tenure, he helped expand Tanger's portfolio to 38 outlet centers and three open-air lifestyle centers across 22 U.S. states and Canada.

Ubiñas joined Tanger's board in 2019 and brings extensive corporate governance experience. He currently serves as chair of the Statue of Liberty & Ellis Island Foundation and sits on AT&T's board of directors. He has been lead independent director at Electronic Arts since 2015 and previously served as president of the Ford Foundation from 2008 to 2013. Earlier in his career, he spent 18 years at McKinsey & Company as a senior partner leading the firm's media practice.

Ryan-Berman has served on Tanger's board since 2009 and became lead independent director in 2023. She has held executive positions at Ralph Lauren, Victoria's Secret, Apple, and Giorgio Armani.

As non-executive chair, Ubiñas will assume responsibilities previously held by the lead independent director position.

Tanger operates 38 outlet centers and three open-air lifestyle centers comprising more than 16 million square feet across tourist destinations and markets in 22 U.S. states and Canada. The company has been a publicly traded real estate investment trust since 1993.