Meet the new president of LT Group
LUCIO TAN III – The son of the late Lucio “Bong” Tan Jr., was announced as the new president of Lucio Tan Group, Inc. on Wednesday, May 3.
The LT Group is a Philippine-based diversified conglomerate with interests in tobacco, banking and financial services, alcohol, property development, and aviation. It was founded by the late Lucio Tan, one of the richest men in the Philippines, and is one of the largest conglomerates in the country.
The company’s subsidiaries include Tanduay Distillers, Philippine National Bank, Asia Brewery, Eton Properties, and Philippine Airlines. The company has been in operation for over 50 years and has a significant presence in both local and international markets.
After nearly a decade, the young Tan replaces his uncle Michael Tan. Lucio Tan III is not new to the company, having served as COO and Vice Chairman of LT Group in 2022. He also served as President and COO of Tanduay Distillers, Inc. since 2019 and as Vice President of PAL Holdings in 2021.
Under Michael Tan’s tenure, LT Group, Inc. recorded P25.1 billion in attributable net income in 2022.
Netizens expressed excitement over Tan III’s appointment, likening it to a scene from a teleserye or Korean drama. Some even joked about being a mistress or wanting to apply for a job in the company.
Here are the comments of some netizens according to balita.net.ph:
“Jojowain po!”
“Wow, ‘The Bachelor.’ Single o married na po ba siya?”
“Parang kuwento sa Wattpad hahaha totoo rin pala ‘yon?”
“Tagapagmana ng kompanya hahaha, I’m sure maraming nakapila!”
“Paano mag-apply? Haha.”
“Congrats babe! Hahaha.”
“Willing po ako maging kabit, charot.”
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