Lucio Tan’s grandkids take charge of MacroAsia
Lucio Tan is putting MacroAsia Corp. (MAC), a leading provider of aviation-related support services in the Philippines, in the hands of his grandsons.
During the Special Board Meeting of MacroAsia last Friday, October 8, the company’s Board of Directors has accepted the retirement of Joseph Chua from being its president and COO.
The Board has also approved the election of Eduardo Luis Luy, who has been the director and treasurer of MacroAsia since December 12, 2019, to replace Chua, and the appointment of Kyle Ellis Tan to fill the positions that Luy vacated.
The said changes were made effective on October 8, 2021.
The 27-year-old Luy is the eldest son of Tan’s daughter, Irene. Before his appointment in MacroAsia, which was made following the passing of Lucio “Bong” Tan, Jr. in November 2019, Luy worked at Reyes Tacandong & Co. for three years. He holds a Master in Business Administration from the Asian Institute of Management (AIM) and a Bachelor of Science degree in Business Administration from the University of the Philippines-Diliman (UPD).
Meanwhile, Kyle Tan, the son of Lucio Tan’s late heir apparent Bong, leads Tanduay Distillers’ aggressive overseas expansion as executive vice president alongside his brother and the distillery’s president and COO, Lucio “Hun Hun” Tan III. He has a bachelor’s degree in Computer Engineering and a master’s degree in Computer Science from the University of Southern California and worked for Microsoft before joining the family business.
The changes in directors and officers were announced in an appropriate disclosure after Lucio Tan issued a public advisory on October 6, saying that his son-in-law, Chua, is not authorized to represent the Tan Group of companies and the family itself.