PAL Holdings Inc. announced Thursday the appointment of the grandson and namesake of tycoon Dr. Lucio Tan as its new president.
The parent firm of Philippine Airlines and Air Philippines named Lucio Tan III as its president, taking over the post from his grandfather who retained his role as the company’s chairman and chief executive.
“We also aim to safeguard our shareholders’ investments by fostering a culture of transparency, accountability and long-term value creation,” he said. “I am grateful to our shareholders, our customers, the flying public, for their trust and support. We face major challenges just the same. We need to rebuild our product and our fleet. Philippine Airlines needs to be a stronger competitor and a leader in service and innovation,” the oldest Tan said.
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