LISTED property developer Megaworld Corp. has appointed Kevin Andrew L. Tan as executive director.
The company named him executive director after his election to the board, the property developer told the stock exchange on Monday.
Mr. Tan replaced his mother, Katherine L. Tan, the wife of tycoon Andrew L. Tan.
She relinquished her position as a member of the board due to “personal reasons.”
Prior to his appointment, Mr. Tan was Megaworld’s executive vice-president and served as chief strategy officer.
Mr. Tan is the vice-chairman, president, and chief executive officer (CEO) of the listed holding company Alliance Global Group, Inc., which has interests in travel and leisure, spirits manufacturing, property development, and quick-service restaurants.
He is also the director, president, and CEO of Megaworld’s real estate investment trust, MREIT, Inc.
Mr. Tan earned his bachelor’s degree in business administration, majoring in management, from the University of Asia and the Pacific.
For the first half, Megaworld’s attributable net income grew by 8.6% to P8.55 billion from P7.88 billion in 2023.
From January to June, consolidated revenue increased by 22% to P39.1 billion from P32.04 billion last year, led by higher real estate sales.
On Monday, Megaworld shares were unchanged at P2.21 per share. — Revin Mikhael D. Ochave
