Billionaire Andrew Tan is stepping down as chief executive of conglomerate Alliance Global Group Inc. and will be replaced by his eldest son Kevin Andrew Tan.
The elder Tan, 65, will remain chairman of the board of AGI, which has investments in real estate, liquor, food, leisure, and gaming businesses.
“Kevin’s vast exposure and professional experience in the various companies under Alliance Global Group for almost two decades brings him to the pedestal of this new leadership role,” Andrew Tan said in a statement about his son.
As the new CEO, Kevin Tan, 38, will spearhead the conglomerate’s strategic direction, financial operations, investments, and acquisitions. He will also take the lead in implementing programs and business strategies to expand the company into becoming one of the most diversified conglomerates in the country.
Prior to the appointment, the younger Tan who studied Business Administration at the University of Asia and the Pacific has been the conglomerate’s executive director since September 2016. He also holds directorships in other AGI companies such as Emperador Inc., Global-Estate Resorts Inc., Empire East Land Holdings Inc. and Golden Arches Development Corp., the holder of the master franchise of McDonald’s Philippines.
As AGI’s executive director, Kevin Tan was in charge of the company’s external affairs, representing the conglomerate in various private and public functions.
Keven Tan has been recognized for his great contribution in catapulting Eastwood City, Megaworld’s first township development, to fame. With this, he also successfully led the master planning of other townships and mixed-use communities around the country, as well as land acquisition and property investments, over the last two decades.
He currently heads Megaworld Lifestyle Malls, the property giant’s own brand for mall and commercial developments. Under his leadership, the company was able to launch 15 full-scale malls in its various townships all over the country.
Kevin Tan was the executive director of Emperador Inc. where he was actively involved in its overseas expansion.
Kevin Tan was also appointed last year as president of the conglomerate’s newly-formed infrastructure arm, Infracorp. Development Inc. which obtained the original proponent status for the proposed Skytrain monorail system which will connect the business districts of Makati City and Taguig City.