Tanger Inc. (NYSE: SKT) has announced the election of Sonia Syngal, the former CEO of Gap Inc., to its board of directors. Syngal brings nearly 30 years of industry experience and leadership to the table, with a proven track record in global supply chain operations, brand management, and product-to-market innovation.
During her tenure as CEO of Gap Inc. from 2020 to 2022, Syngal financially stabilized the company and doubled e-commerce revenue across its portfolio of billion-dollar lifestyle brands, including Gap, Banana Republic, Old Navy, and Athleta. Additionally, as the CEO of Old Navy, she led the brand's strategic turnaround, expanding its market presence and e-commerce capabilities.
Tanger's President and CEO, Stephen Yalof, expressed his excitement about Syngal joining the board, noting that her expertise as a Fortune 500 executive leader will strengthen the capabilities of the board. He emphasized her proven ability to optimize and successfully implement business strategies, omni-channel growth, and change management, which will be invaluable as the company advances its growth and portfolio enhancement strategies.
Bridget Ryan-Berman, the lead independent director of Tanger's board, also welcomed Syngal, highlighting her extensive experience and insights, which will support the board's ongoing work to refresh and grow its expertise. Syngal herself expressed excitement about working alongside Tanger's board and leadership team to continue executing the company's vision and driving its success forward.
In addition to her new role at Tanger, Syngal serves on the board of governors of Boys & Girls Clubs of America, as a senior advisor to Accenture, and as a champion for Journey to Lead, a non-profit network designed to advance visionary women leaders. She has also held various leadership positions and advisory roles in organizations such as Gap Inc., the California governor's task force on business and jobs recovery, and the Fashion Pact.
Tanger Inc. is a leading owner and operator of outlet and open-air retail shopping destinations, with a portfolio of 38 outlet centers, one adjacent managed center, and one open-air lifestyle center across 20 U.S. states and Canada. The company continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. Today the company's shares have moved 0.1% to a price of $32.23. For the full picture, make sure to review Tanger's 8-K report.
