Business

First family first: Carmen replaces Lucio Tan’s brother Harry as LT Group vice chair

Bilyonaryo Lucio Tan’s first wife, Carmen, has firmed up her family’s control of LT Group Inc.

In a board meeting on October 23, the LT Group director voted Carmen as vice chair to replace Lucio’s 73-year old brother, Harry.

Carmen used to be a non-executive director of LT Group. This is her second promotion in less than a year after being named vice chair of Lucio’s airline business, PAL Holdings Inc. (parent of Philippine Airlines) in October 2019..

Since 2019, Carmen has been consolidating her first family’s power in LT Group with three allies on the board – her daughter Vivienne K. Tan; her apo, Lucio “Hun Hun” Tan III; and her BFF, Mary G. Ng, executive vice president of the Federation of Filipino Chinese Chamber of Commerce and Industry Inc. (FFCCCII).

Carmen’s rise to the summit is seen as a bad sign for Lucio’s son, LT Group president and COO Michael Gonzales Tan whose mother, Lucia “Letty” Gonzalez-Tan, died less than two months ago. Without her mother and his uncle demoted, Michael’s hold on his post tenuous at best.

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