The first wife of ultra bilyonaryo Lucio Tan III is taking another crack at controlling the most powerful Filipino-Chinese business group in the country after her BFF and proxy, Mary Ng, fell short five years ago.
The 82-year old Carmen Tan is again backing the candidacy of Ng for president in the coming election of the Federation of Filipino Chinese Chambers of Commerce and Industry (FFCCCII) this March.
But Carmen’s proxy will face a formidable opponent, Lamoiyan Corp. founder and president Cecilio Pedro, who is also determined to win a two-year term as head of the FFCCCII.
Pedro, who created Hapee toothpaste after Colgate and Close-Up dumped his aluminum tubes for plastic, is a popular figure among FFCCCII members and is close to President Bongbong Marcos. He was one of the few, high-profile businessmen who joined the President’s state visit to China last week.
Ng lost in her first try for the FFCCCII presidency in 2018 to Sterling Paper and SL Agritech owner Henry Lim Bon Liong, who was backed by LT Group president Michael Tan, Lucio’s eldest son from his second wife, Lucia “Letty” Gonzalez, who died two years ago.
(An FFCCCII president is limited to a single, two-year term. Lim held the presidency for four years because the FFCCCII could not hold an election when the pandemic broke out in 2020).
Babbler said Ng’s loss started Michael’s fall from grace in his father’s vast business empire.
Carmen, who is depending largely on the broad and deep connections of her husband who is FFCCCII chairman emeritus, considered her BFF’s loss a slap in her face and started to ease Michael out of power.
Michael was the most prepared among Tan’s children and was thus widely expected to carry the torch for his father.
As Lucio’s control diminished with old age and poor health, Carmen consolidated her influence in the business by taking over as vice chairman of PAL Holdings in 2019 and the LT Group in 2020.
She also brought in the 70-year old Ng as director of the LT Group and PAL.
Carmen gave her children more powers in the family business while grooming her grandchildren, specifically Lucio “Hun Hun” Tan III as heir apparent. The 29-year old Hun Hun, who lived most of his life in the United States, was named vice chairman and COO of the LT Group in May 2022.
She also jettisoned Lucio’s loyal executives, including Transportation
Secretary Jimmy Bautista who was forced to retire as PAL president and COO in 2019.
Carmen appears close to achieving her ambition of fully consolidating her power in the family business this year. But it remains to be seen whether her renewed bid to rule FFCCCII by proxy will win the second time round.
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