Lucio Tan assumes interim presidency of PAL

July 17, 2019

Philippine Airlines (PAL) on Wednesday announced that Lucio Tan will take over as interim PAL president effective immediately. 

Vivienne K. Tan, PAL executive vice president, treasurer and chief administrative officer said Tan, currently the chairman, decided to assume the post pending approval by the board of directors of candidates for president. 

Ms. Tan  will assist him in the airline's day-to-day operations, PAL said.  

"Our goal is to ensure an orderly and seamless transition of leadership to ensure that our mandate to serve the traveling public is achieved. Thus, it is in the best interest of PAL and its stakeholders for my father and I to work together pending the turnover of day to day operations to the next PAL President and COO," she said. 

Last June 24, the PAL board approved Ms. Tan's appointment as the airline's officer-in-charge following the retirement of then PAL president Jaime  Bautista which took effect on June 30. 

Ms. Tan remains PAL's executive vice president/treasurer and chief administrative officer. 

PAL management appointed  two key executives who will lead the airline's commercial and human resources groups. 

Rosemarie Katalbas was appointed as  senior vice president of human capital department and Eugene Go as  chief commercial and marketing officer. 

PAL’s parent firm, PAL Holdings Inc. earlier reported a net loss of P60.81 million in the first three months of 2019 from P201.63 million in the same period last year.

Consolidated revenues in the first quarter amounted to P39.27 billion, up 7.2 percent from P36.62 billion year-on-year.

ANA HD, the Japanese parent company of All Nippon Airways, earlier invested $95 million for a 9.5-percent stake in PAL Holdings. 

ANA HD acquired the shares from Trustmark Holdings Corp., owned by the family of Lucio Tan and largest shareholder in PAL Holdings.  DMS