Lucio Tan’s first wife Carmen has further strengthened her grip on the family-owned PAL Holdings Inc., the parent firm of flag carrier Philippine Airlines.
Carmen was named vice chairman of PAL Holdings just weeks after her son Bong Tan’s death.
The Tan matriarch and her children are taking control of the family’s business empire valued at $3.6 billion according to Forbes.
Carmen and Lucio’s daughter, Vivienne has been thrust into the spotlight, taking on key roles in their holding company LT Group.
LTG has interests in banking , airline, liquor, tobacco, real estate, education, and healthcare.