The Lucio Tan group’s wunderkind Lucio Tan III took another key post in the diversified conglomerate as he was appointed president of PAL Holdings Inc., taking over the post from his grandfather Dr. Lucio C. Tan.

The patriarch retained his role as chairman and chief executive officer.

“As the newly designated President of PAL Holdings, I am committed to providing stability and upholding the highest level of integrity within the company. I look forward to working closely with the PAL team, under the leadership of its President and COO, Capt. Stanley Ng, to ensure a collaborative and cohesive approach in serving the best interests of our customers,” Tan III said.