BIZ BUZZ: Taipan Lucio Tan’s LT Group Inc.’s annual meeting is coming up on May 3 and, unless plans miscarry, the event will likely see the realization of a family’s carefully planned succession moves.
The yearlong transition, of course, was meant to give Lucio III time to adjust to the role of a lifetime but also to calm and reassure investors worried about any abrupt changes following the decisions made by Tan’s first family.
Profits in the past year reached P25 billion, with Philippine National Bank still the largest earnings contributor. It remains to be seen whether Lucio III can bring the group to its next stage of growth as his uncle once did.Austere Panadero has been appointed the new president of Zuellig Family Foundation , five years after joining it as executive director.
“His public service experience has been instrumental in building ZFF’s partnerships with local government units and development organizations,” the statement added.
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