After a year-long leadership transition period, Lucio Tan III has officially taken over as president of the Lucio Tan Group. During the transition, he shared decision-making responsibilities for business and operational matters with his uncle, Michael Tan, who had been president of LTG since 2010. Tan III is also president and COO at TDI since 2019, and vice president at PAL Holdings, Inc. since 2021.
In his President's Report, on the other hand, outgoing president Michael Tan shared that LTG has been through ups and downs since its Initial Public Offering in 2013.
LT Group, Inc. is a Philippines-based holding company. The Company has a diversified portfolio of consumer-focused businesses. The Company operates through six segments. Banking segment provides a full range of banking and other financial services to corporate, middle-market and retail customers, the National Government (NG), local government units (LGUs) and government-owned and controlled corporations (GOCCs) and various government agencies. Distilled Spirits segment is involved in manufacturing, compounding, bottling, importing, buying and selling rum, spirit beverages, and liquor products. Beverage segment is engaged in brewing and soft drinks and bottled water manufacturing in the Philippines. Tobacco segment is a supplier and manufacturer of cigarettes, casings, tobacco, packaging, labels and filters. Property Development segment is engaged in ownership, development, leasing and management of residential properties. Others segment consist of various holding companies.