Vice Chairman and chief operating officer, LT Group Inc
Lucio Tan has found an heir apparent in his brilliant grandson
At some point in time, family-owned businesses will have to transition to the next generation. It can be tricky, as in the case of Lucio Tan’s “peculiar family situation,” as described by his daughter, Vivien Tan. In 2019, succession became an urgent agenda with the sudden passing of Lucio Tan Jr., and so Lucio Jr’s eldest son, Lucio III, was summoned to Manila.
The young would-be executive knew early on that joining the family business meant carrying not just his legendary grandfather’s name, but his legacy. When the time came for him to report for duty, Lucio III brought with him sterling academic credentials: an engineering degree (graduating in the top 5 per cent of his class) and a master's in computer science at the prestigious Stanford University.
Lucio Tan III was eased into the family conglomerate as president and COO of Tanduay Distillery, along with other key positions in various business units. In May of this year, the 29-year-old was appointed vice president and COO of the LT Group. His entry comes at a difficult time, but Tanduay’s phenomenal growth despite the pandemic, and PAL’s strong last quarter forecast less than a year from exiting bankruptcy boosted Lucio III’s image as an able heir apparent.
Did You Know?
Lucio Tan III is a big fan of the Golden State Warriors.