Lucio Tan's grandson takes key roles in business empire

Taipan Lucio Tan has appointed his 27-year-old grandson and namesake Lucio Tan III to key positions in Philippine Airlines, LT Group Inc. (LTG), and Tanduay Distillers Inc. (TDI) after the sudden passing of Lucio Tan, Jr.

LTG disclosed to the Philippine Stock Exchange that the Boards of Directors of LTG and TDI has approved the election of Lucio C. Tan, III as Director of LTG, filling up the position vacated by the passing of his father, Lucio K. Tan, Jr.

The younger Tan was also appointed Director, President and Chief Operating Officer of TDI to fill up the position vacated by the passing of his father.

In a separate disclosure, PAL Holdings Inc. said Lucio III was appointed as Director of PAL Holdings, MacroAsia Corporation, Philippine Airlines, Inc., and Air Philippines Corporation to fill up the position vacated by the passing of his father.

Tan graduated summa cum laude from Stanford University with a double degree in Electrical Engineering and Computer Science.

Among other citations, the young Tan obtained the Frederick Emmons Terman Engineering Scholarship award, an annual citation given by Stanford’s School of Engineering to seniors for outstanding academic achievement.

PAL Holdings also reported the election of John G. Tan as Director to replace his brother Michael G. Tan. John G. Tan was a Director of TDI from 2015 to 2018, Vice President for Operations of Philippine Airlines, Inc. from 2009 to 2012, and Vice President for Property Management of Landcom Realty Corporation from 1997 to 2008.

PAL also appointed the wife of Lucio Sr., Carmen K. Tan, as Vice Chairman;Mark C. Chen as Independent Director, replacing Governor Amando M. Tetangco, Jr.; while Celeste C. Mutuc resigned as Chief Finance Officer of both PAL and Air Philippines.