MANILA, Philippines – With the sudden passing of his father, 53-year-old Lucio “Bong” Tan Jr., last month, 27-year-old Lucio “Hun Hun” Tan III assumes key role in the family’s business empire, many of which had just been filled by his father some 2 weeks before his untimely death.
Following the demise of his dad, Hun Hun took on a greater role in conglomerate LT Group Inc. (LTG). At just 27 years old, Hun Hun was appointed president, chief operating officer and director of liquor company Tanduay Distillery Inc. He also takes a seat at the boardroom of LT Group Inc. and flag carrier PAL Holdings.
The young man was also elected as director at MacroAsia Corp. as well as PAL Holdings’ operating units Philippine Airlines and Air Philippines Corp.
A brilliant young mind
So many problems have been hounding the family’s business empire in recent years, particularly due to PAL’s losses amid cutthroat competition in the airline industry and the challenges faced by the family's tobacco business amid regulatory tightening, higher taxes, and the rise of e-cigarettes in the market.
But the 27-year-old Hun Hun might just be the breath of fresh air that the company needs. The young millennial graduated summa cum laude with a double degree in electrical engineering and computer science from no less than Stanford University back in 2015. He also received the Frederick Emmons Terman engineering scholarship; it is an annual citation given by the School of Engineering at Stanford to seniors for outstanding academic achievement.
He would later obtain his master’s degree in computer science also from Stanford University in 2017.
Major empire reorganization
At 85 years old, billionaire Lucio Tan has handed the reins of most of the family’s business interests to the rest of the family. Bong had just assumed the presidency of Philippine Airlines (PAL) holding firm two weeks before his death. He held top positions in family-controlled LT Group, Tanduay, and Philippine National Bank.
With Bong’s untimely passing, Hun Hun filled up most of the posts held by his dad.
The business empire has also undergone major reorganization. While Lucio’s other son Michael G. Tan remains LTG president and chief operating officer, he resigned from the board of PAL Holdings; he was replaced by his brother John G. Tan.
Former Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. resigned as independent director earlier and was replaced by Mark C. Chen. Carlos Luis Fernandez was named as new corporate secretary at Tanduay Distillers.
PAL and Air Philippines Chief Finance Officer (CFO) Celeste C. Mutuc also resigned from her posts and will be replaced by Nilo Thaddeus P. Rodriguez as acting CFO.
— Joy Adalia, The Summit Express
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| Photo credit: Allianz PNB Life Facebook page |
Following the demise of his dad, Hun Hun took on a greater role in conglomerate LT Group Inc. (LTG). At just 27 years old, Hun Hun was appointed president, chief operating officer and director of liquor company Tanduay Distillery Inc. He also takes a seat at the boardroom of LT Group Inc. and flag carrier PAL Holdings.
The young man was also elected as director at MacroAsia Corp. as well as PAL Holdings’ operating units Philippine Airlines and Air Philippines Corp.
A brilliant young mind
So many problems have been hounding the family’s business empire in recent years, particularly due to PAL’s losses amid cutthroat competition in the airline industry and the challenges faced by the family's tobacco business amid regulatory tightening, higher taxes, and the rise of e-cigarettes in the market.
But the 27-year-old Hun Hun might just be the breath of fresh air that the company needs. The young millennial graduated summa cum laude with a double degree in electrical engineering and computer science from no less than Stanford University back in 2015. He also received the Frederick Emmons Terman engineering scholarship; it is an annual citation given by the School of Engineering at Stanford to seniors for outstanding academic achievement.
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| Photo credit: Business World |
He would later obtain his master’s degree in computer science also from Stanford University in 2017.
Major empire reorganization
At 85 years old, billionaire Lucio Tan has handed the reins of most of the family’s business interests to the rest of the family. Bong had just assumed the presidency of Philippine Airlines (PAL) holding firm two weeks before his death. He held top positions in family-controlled LT Group, Tanduay, and Philippine National Bank.
 |
| Photo credit: Jun Mendoza / Philippine Star |
With Bong’s untimely passing, Hun Hun filled up most of the posts held by his dad.
The business empire has also undergone major reorganization. While Lucio’s other son Michael G. Tan remains LTG president and chief operating officer, he resigned from the board of PAL Holdings; he was replaced by his brother John G. Tan.
Former Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. resigned as independent director earlier and was replaced by Mark C. Chen. Carlos Luis Fernandez was named as new corporate secretary at Tanduay Distillers.
PAL and Air Philippines Chief Finance Officer (CFO) Celeste C. Mutuc also resigned from her posts and will be replaced by Nilo Thaddeus P. Rodriguez as acting CFO.
— Joy Adalia, The Summit Express
