Carmen K. Tan, the wife of the country’s last reigning taipan, 86-year-old Lucio Tan, has been appointed as the vice chair of LT Group Inc., the publicly listed holding company of the Tan family’s business empire.
LT Group consists of Lucio Tan-led companies such as Philippine Airlines, Philippine National Bank, University of the East, Asia Brewery, Tanduay Distillers Inc., Eton Properties, Century Park Hotel, MacroAsia Corporation, and much more.
LT Group is one of the oldest and largest conglomerates in the country. It’s currently valued at just over P141 billion.
Carmen, 77, was formerly a director on the board before being bumped up to vice chair. Her husband, Lucio Tan, leads the board as chairman, while Lucio and Carmen’s daughter Vivienne serves as director. Other Tans on the board are Harry Tan, Lucio’s brother, and Michael G. Tan, Lucio’s son who also serves as LT Group’s president and COO.
Together, the Tans make up half of the 10-person board of directors.