Lucio Tan grandson takes greater role in LT group

Lucio Tan III, son of the late Lucio “Bong” Tan, Jr.

The grandson and namesake of tycoon Lucio Tan has taken a greater role in the affairs of conglomerate LT Group Inc. (LTG) following the untimely demise of Lucio “Bong” Tan Jr.

Lucio Tan III was elected as director of LT Group and flag carrier PAL Holdings, as well as president, chief operating officer of liquor arm Tanduay Distillery Inc. Tan III filled up the position vacated by the passing of his father, Tan Jr., in these companies.

This was separately disclosed by LTG and PAL Holdings to the Philippine Stock Exchange on Wednesday.

At PAL Holdings, John Tan – the tycoon’s son from the second family – was elected director in lieu of Michael Tan.