Lucio Tan III elected director of LT Group, PAL units

Lucio Tan III, grandson of tycoon Lucio Tan, has been elected as a director of LT Group, MacroAsia Corporation, PAL Holdings, Philippine Airlines (PAL), and Air Philippines Corporation.

The 27-year-old will also serve as president and chief operating officer of Tanduay Distillers, filling the vacancy left by his late father, Lucio "Bong" Tan Jr.

Tan III, who graduated summa cum laude from Stanford University with degrees in electrical engineering and computer science, previously worked as a software engineer at Lyft.

He was also a recipient of the Frederick Emmons Terman Engineering Scholarship award from Stanford's School of Engineering.

John G. Tan, son of Lucio Tan from his second family, was elected as a director of PAL Holdings, replacing Michael G. Tan.

Carmen K. Tan was appointed Vice Chairman of PAL, while Celeste C. Mutuc resigned as Chief Finance Officer of PAL and Air Philippines.