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Philippine tycoon Andrew Tan steps aside for son

Alliance Global's new leader becomes youngest among country's conglomerates

Alliance Global Group former CEO Andrew Tan, left, and new CEO Kevin Tan.
Alliance Global Group former CEO Andrew Tan, left, and new CEO Kevin Tan.

MANILA -- Philippine tycoon Andrew Tan resigned Monday as chief executive of Alliance Global Group, and the family-run conglomerate named his son as the company's new CEO.

Kevin Tan, 38, was appointed CEO effective Monday, while his 68-year-old father remains as Alliance Global's chairman. The son becomes the youngest chief executive among major Philippine conglomerates.

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