The new president of PAL Holdings has previously been named as the successor of former LT Group President Michael Tan.

After ending 2022 on a high note with a total comprehensive income of $196.9 million (approximately PHP 11.02 billion), PAL Holdings has appointed a new president. It is none other than Lucio Tan III. 

Lucio Tan III is taking over the position of his grandfather, Lucio Tan. According to a report by the BusinessWorld, the elder Tan remains the company’s Chairman and Chief Executive Officer. 

Lucio Tan III was previously named the new president of LT Group. LT Group’s subsidiaries include Asia Brewery, Philippine National Bank (PNB), and Philippine Airlines (PAL). PAL Holdings is the parent company of PAL. 

Lucio Tan III’s Statement on His Appointment

The grandson of Lucio Tan has released a statement on his appointment as PAL Holdings’ new president. 

“As the newly designated President of PAL Holdings, I am committed to providing stability and upholding the highest level of integrity within the company,” he says. 

“I look forward to working closely with the Philippine Airlines team, under the leadership of its president and chief operating officer, Stanley K. Ng, to ensure a collaborative and cohesive approach in serving the best interests of our customers,” the new president adds. 

Who Is Lucio Tan III? 

A summa cum laude graduate of Stanford University with a degree in electrical engineering, Lucio Tan III is the son of the late Lucio “Bong” Tan Jr. He went on to complete a master’s degree in computer science from the same university. 

According to Rappler, Lucio Tan III earned experience interning at top tech companies such as Apple and Facebook. He was working as a software engineer at Lyft when he returned home upon his father’s death. 

Since he returned from the United States, Lucio Tan III has held a variety of positions in different companies owned by his family before he eventually became president of LT Group and PAL Holdings. He is 30 years old.