PAL Holdings president Bong Tan dies

MANILA, Philippines – Philippine Airlines (PAL) Holdings president Lucio "Bong" Tan Jr died on Monday, November 11. He was 53.

"His untimely passing leaves a big void in our hearts and our group's management team which would be very hard to fill," the Tan family said in a statement.

Sources earlier told Rappler that Tan, son and namesake of tycoon Lucio Tan, suffered an aneurysm.

Tan was hospitalized at the Cardinal Santos Medical Center last Saturday, November 9, after collapsing during a basketball game. The family said then that he was in stable condition.

Tan had just replaced Gilbert Santa Maria as PAL Holdings president and chief operating officer last October 28. Santa Maria remains president of PAL Incorporated, the operations arm of the flag carrier.

Prior to his death, Tan also called the shots for the University of the East (UE) – the school owned by his father – as head coach of the men's basketball team in the UAAP. The UE Red Warriors ended Season 82 with a 4-10 record for a 7th-place finish.

In the semi-professional level, Tan had massive success as his Stag Pale Pilseners, which later carried the name Tanduay Gold Rhum, won 7 titles in the Philippine Basketball League from 1995 to 1998.

Tan is survived by his wife Julie, and sons Lucio Tan III and Kyle.

"Bong was a son, husband, father, friend and, most importantly, our elder brother whom we all relied on for advice, counsel, and leadership," his sister Vivienne said.

The Tan family has business interests in real estate, banking, tobacco, and beverages. The LT Group's total assets amount to over P1 trillion.

The patriarch, 85-year-old Lucio Sr, was ranked by Forbes as the 6th richest man in the Philippines with a net worth of over P173 billion. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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