Lucio Tan’s 27-year-old grandson assumes top posts in family business

Lucio “Hun Hun” Tan III, namesake and grandson of tycoon Lucio Tan Sr., is assuming the top posts in the family business following the death of his father Lucio “Bong” Tan Jr.

In a disclosure to the Philippine Stock Exchange on Wednesday, the family’s holding firm LT Group Inc. said the board of directors has elected Tan III as director to fill up the post vacated by Tan Jr.

Bong Tan passed away on November 11 due to brain herniation.

The LT Group directors also appointed Bong’s son as director, president and chief operating officer of Tanduay Distillers Inc., “filling up the position vacated by the passing of his father.”

In a separate disclosure, Philippine Airlines’ listed parent firm PAL Holdings Inc. said that Tan III will fill up the director post vacated by Tan Jr.

Tan III will also take a director’s seat in PAL Inc. and Air Philippines Corp.

The 27-year-old scion finished earned a computer engineering degree from the Stanford University in California in 2015.

He continued his graduate studies at Stanford and finished his master’s degree in 2017. —Ted Cordero/VDS, GMA News