Tan grandson takes over father’s PAL posts
Credit to Author: Lisbet K. Esmael| Date: Wed, 18 Dec 2019 16:15:16 +0000
THE grandson and namesake of Lucio Tan has assumed several executive roles in the tycoon’s business empire after his father’s passing last month.
In a disclosure on Wednesday, Tan-led PAL Holdings Inc. announced that its board of directors, and those of subsidiaries Philippine Airlines Inc. (PAL) and Air Philippines Inc., had elected 27-year-old Lucio C. Tan 3rd to replace his father Lucio Jr. as director of all three firms during a joint meeting.
The magnate’s 53-year-old son died on November 11, two days after he collapsed during a basketball game in Mandaluyong City. A brain herniation was reported as the cause.
PAL Holdings also announced that the third-generation Tan was also chosen as director of the LT Group Inc.; MacroAsia Corp.; and Tanduay Distillers Inc., of which he is also now its president and chief operating officer.
The younger Tan graduated with a bachelor’s degree in electrical engineering in 2015 and a master’s degree in computer science in 2017, both from Stanford University.
The filing comes a week after PAL Holdings Inc. disclosed that the tycoon’s wife, Carmen, was appointed as PAL vice chairman to replace Lucio Jr.
The elder Tan’s daughter Vivienne is the executive vice president of PAL.