Lucio “Hun hun” C. Tan III, grandson of tycoon Dr. Lucio C. Tan, Sr., has been elected as director of PAL Holdings, Inc. (PHI) and its subsidiaries, Philippine Airlines, Inc. (PAL) and Air Philippines Corp. (APC).
Tan III, 27, fills the positions vacated by his late father, Lucio K. Tan, Jr., who passed away last November, PHI said in a disclosure to the Philippine Stock Exchange.
Tan III was also elected on December 17 as director of other family-owned companies, namely, LT Group, Inc. and MacroAsia Corporation, and as director, president, and chief operating officer of Tanduay Distillers, Inc. (TDI).
He earned his bachelor’s degree in Electrical Engineering in 2015 and master’s degree in Computer Science in 2017, both from Stanford University.
Also elected as director of PHI was Tan Sr.’s son, John G. Tan, replacing his brother, Michael G. Tan, who has resigned from the Board. John served as vice president for operations at PAL from 2009 to 2012, and was director at TDI from 2015 to 2018, and vice president for property management of Landcom Realty Corporation from 1997 to 2008. John earned his bachelor’s degree from De La Salle University in 1993.
Mark C. Chen was also elected as independent director, replacing Amando M. Tetangco, Jr., who resigned in November.
Last December 11, Carmen K. Tan, Tan Sr.’s wife, was also appointed to PHI’s Board as vice chairman.
The PAL and APC Boards, meanwhile, had approved the resignation of Celeste C. Mutuc as chief finance officer.
Last November, PAL director Atty. Estelito P. Mendoza resigned.
On October 28, PAL Holdings president Gilbert Santa Maria had resigned and was replaced by Tan, Jr., while Santa Maria remains president of the operating company, PAL.
Other key officials of the flag carrier who also resigned in October included senior vice president for planning and commercial group Angelito Alvarez, senior vice president for legal and general counsel Siegfred Mison, and chief commercial group adviser Datuk Bernard Francis.