REAL ESTATE

Tanger Outlets ‘refreshes’ its board; seeks diversity

BY Al Urbanski

Tanger Outlets has announced the appointment of Luis A. Ubiñas to its board of directors. He will join another recent appointee, Susan E. Skerritt, in taking leadership of the company in a different direction.

The company also announced that its three longest-serving independent directors — Allan L. Schuman, William G. Benton, and Thomas E. Robinson — will retire from the board at the expiration of their current terms in 2020 and will not stand for re-election.

“Our focus on Board composition reflects Tanger’s thoughtful approach and commitment to ongoing board refreshment and diversification,” said David B. Henry, non-executive chair of the board. “With these changes, Tanger has further increased the diversity of our board in terms of gender, ethnicity, and career experience.”

Ubiñas is credited with restoring the health of The Ford Foundation as its president during the Great Recession. From 2008 to 2013, he helped boost its endowment by 50% to $12 billion. The South Bronx native holds both a B.A. and MBA from Harvard University, is a former senior partner of McKinsey & Company, and serves on the boards of the Pan American Development Foundation and Electronic Arts. He also chairs the finance committee of the New York Public Library.

“He is a proven strategic thinker and change agent with deep experience in the marketing and media arenas,” Tanger CEO Steven Tanger said of Ubiñas.

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