Growth Isn’t a Solo Act: Interview with Stephen Yalof, CEO of Tanger
I recently went one-on-one with Stephen Yalof, CEO of Tanger.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Stephen: My path to becoming the CEO of Tanger wasn't a straight line. It included roles at Ralph Lauren, The Gap, Inc., and Simon Premium Outlets. Each stop along the way was a masterclass in leadership. Through these experiences, I’ve recognized the significance of leadership styles in motivating and inspiring individuals within an organization. I saw firsthand how leaders who encouraged and empowered could truly light a fire in their teams. People like Roger Farah, Bridget Ryan-Berman, and Mickey Drexler weren't just bosses to me, they were mentors who opened doors to new opportunities and fostered a sense of community and growth. It was amazing to see how individuals who worked under them, including myself, thrived when they gave us the chance to learn and contribute at all levels. But I also encountered leaders who did the opposite – walled off information, stifled communication, and limited access. These experiences were equally impactful, teaching me what not to do as a leader myself.
Those contrasting leadership styles I witnessed were critical to my growth. I've tailored my own approach to prioritize transparency, accessibility, and mentorship. I've modeled my style on the positive attributes of leaders who provided me with opportunities to connect with others across the organization, including board members. This approach not only fosters loyalty but also strengthens relationships crucial for organizational success.
In essence, my path to leadership has been shaped by a combination of experiences, failures, and mentors who have instilled in me the importance of transparency, accessibility, and fostering meaningful connections within organizations.
Adam: In your experience, what are the key steps to growing and scaling your business?
Stephen: A key driver of our growth at Tanger has been putting the customer first in everything we do and diversifying our portfolio to align with their evolving preferences.
For example, we've introduced more food, beverage, and entertainment options across our centers. Recent projects like our Tanger Centers in Nashville, Asheville, and Huntsville feature vibrant restaurant plazas and entertainment experiences alongside the best-in-class retail brands our customers have come to expect at our centers.
We've also expanded into fast-growing markets to capture new audiences. Our center outside Nashville brings the Tanger experience to the doorstep of one of the south's hottest cities. Similarly, our location in Asheville makes us accessible to the millions of tourists visiting North Carolina and the Great Smoky Mountains region.
We are also constantly innovating to improve the customer experience and looking for new ways to make it easier for guests to shop and to find the products they want. This approach led to the development of our new TangerClub loyalty program and app, which lets shoppers explore and utilize tailored digital offers, enhancing their shopping experience with a personalized and intuitive touch.
By evolving our business to match consumer demand and selectively expanding into thriving metro areas, Tanger has achieved massive portfolio growth. We listen to what our customers want and strategically pivot our business to match their needs.
Adam: What do you believe are the defining qualities of an effective leader?
Stephen: Leading isn't about power or titles. It's about connection, growth, and shared success. It's also about building a team that feels valued, supported, and empowered to do their best work. That's the kind of leader I strive to be every single day.
True leaders invest time in connecting and engaging with employees at all levels. When I visit our centers, I make it a priority to interact with store associates and field teams. These interactions not only keep me informed about frontline operations but also offer opportunities to mentor future Tanger leaders.
Beyond connecting with team members, impactful leadership extends to the communities we serve. Initiatives like TangerKids grants and the Tanger Pink program showcase our commitment to being good neighbors. But true community engagement goes further. We actively speak with local residents – not just as consumers, but as valued community members – to understand their unique needs and preferences. Recognizing that one size doesn't fit all, we tailor our centers to serve each region's specific wants, fostering vibrant community hubs wherever we operate.
Another important quality is being okay with failure. Leadership isn't a smooth ascent; it's a journey with plenty of stumbles. I'm not one to shy away from them. In fact, I see them as stepping stones to growth. Over the course of my professional life, I've made my fair share of mistakes, but each one has been a valuable lesson. I believe in owning up to them, sharing them openly with my team, and most importantly, using them as fuel for collective learning and growth. This approach fosters a culture of trust, where everyone feels comfortable admitting errors and learning from each other. Throughout my career, the mistakes that my teams learned from together ended up propelling us further than any individual success ever could.
Lastly, in my leadership approach, I prioritize communication that is clear and accessible to everyone. Rather than speaking to the smartest person in the room, I engage with individuals across the spectrum to ensure that my message is easily understood and relatable to all. It's not about dumbing things down; it's about creating an environment where everyone feels heard and valued. Fostering that sense of inclusivity has been instrumental in driving our success at Tanger.
Adam: How can leaders and aspiring leaders take their leadership skills to the next level?
Stephen: I'm a firm believer that growth isn't a solo act. That's why I wholeheartedly encourage everyone at our company to tap into the wisdom of respected leaders. These aren't just titles on an org chart, they're fountains of knowledge and experience waiting to be tapped. For me, mentorship wasn't just about career advice. It was about finding a sounding board or a source of inspiration.
Also, if you want to lead, be a mentor yourself. Take promising employees under your wing and invest time in their development. Not only is this process rewarding, but you often learn new perspectives from your mentees.
At every stage of your career, be hungry for knowledge and humble enough to admit you still have more to learn. Surrounding yourself with mentors who can share their expertise will take your leadership abilities to new heights.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Stephen:
Surround yourself with the right team. Hire people whose strengths complement yours and empower them to excel in their roles.
Never stop learning and evolving. Seek out knowledge and skills that will make you a better leader and find mentors who can offer guidance and insight.
Make social responsibility a priority. Giving back should be woven into the fabric of your culture. Initiatives that make a difference champion your values to employees while benefiting your community. A true win-win.
Adam: What is your best advice on building, leading, and managing teams?
Stephen: One of the most valuable pieces of advice I can offer on building, leading, and managing teams is to prioritize genuine engagement. This means fostering connections not only from top management down but also from the bottom up, ensuring that every member feels heard and valued.
Empowerment is at the core of effective leadership. Recognize that you hire people with expertise in areas where you may lack proficiency. For instance, while I excel in operating shopping centers and leasing space, our CFO, Michael Bilerman, brings a strong background in investment banking to the table, something I’m less familiar with. By empowering each team member to leverage their strengths, we create a dynamic and capable team.
That said, I completely avoid micromanaging functional experts; instead, I focus on clearing obstacles and providing support. Leadership involves enabling your team to execute the vision collectively while addressing any challenges that may arise. This applies at every level, including our on-the-ground teams. They're the backbone of our customer experience, the friendly faces that make every interaction count. That's why empowerment is non-negotiable. Take a General Manager – they should absolutely be the driving force in leasing vacant spaces. They're equipped with the knowledge of the wants and needs of the consumers in their regional community and I trust their judgment to drive success. My job is to help inform and support their decisions, not dictate them. This fosters a culture of ownership and accountability that fuels innovation and results.
Ultimately, building a team that executes your vision requires trust, collaboration, and a commitment to supporting each member's growth and success. As a leader, your role is to pull your team forward, clearing the pathway for them to excel and contribute to the collective success of the organization.
Adam: What are your best tips on the topics of sales, marketing, and branding?
Stephen: People naturally gravitate towards those they like being around and talking to. That's why I don't just sell, I invest in building genuine connections with my retail partners and prospects.
It pays to invest time in getting to know potential business partners personally, understanding their needs, and showing genuine interest in their success. By caring about them as individuals, I build that essential rapport that goes beyond "just another salesperson." This doesn't just earn me loyalty, it makes them actually happy to hear from me.
Clients are more likely to engage with someone they have a positive relationship with, so my best tip would be to invest in building meaningful connections because they can be the key to sales success.
Adam: What is the single best piece of advice you have ever received?
Stephen: One piece of advice that truly resonated with me was “You learn the hard way, and it hurts, but you learn from it.” Sure, failing is tough, but embracing the struggles has equipped me with resilience and wisdom I wouldn't trade for anything.
Adam Mendler is an entrepreneur, writer, speaker, educator, and nationally recognized authority on leadership. Adam is the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one-on-one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal-winning athletes, political and military leaders - for intimate half-hour conversations each week. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities, and non-profit organizations. Adam has written extensively on leadership and related topics, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. Adam teaches graduate-level courses on leadership at UCLA and is an advisor to numerous companies and leaders. A Los Angeles native, Adam is a lifelong Angels fan and an avid backgammon player.
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