BACOLOD

Feuding Yansons hold separate stockholders meetings

NEGROS. Leo Rey Yanson (second from right) was re-appointed as chairman of the Board and president of Southern Star Bus Transport Inc. during its annual stockholders and organizational meeting on January 18, 2021. (Contributed Photo)

THE Yansons continue to conduct separate annual stockholders meetings for their bus companies -- Southern Star Bus Transport Inc., Bachelor Express Inc. and Mindanao Star Bus Transport Inc., indicating that the family feud is far from over.

The controlling camp of Leo Rey Yanson (LRY) and their matriarch, Olivia V. Yanson (OVY), has maintained that they still head various firms under their family-owned Yanson Group of Bus Companies (YGBC).

On January 18, LRY, Ginnette Yanson-Dumancas, Charles Dumancas, OVY and Arvin John Villaruel were re-elected as members of the Southern Star Bus Transport Inc. (SSBTI) Board of Directors during its annual stockholders' meeting.

The camp, in a press statement, said following the election of the directors, the Board held an organizational meeting wherein LRY was re-appointed as chairman of the Board and president of SSBTI.

OVY, meanwhile, was re-appointed as the firm's corporate secretary and treasurer.

On January 17, the Bachelor Express Inc. (BEI) also held its annual stockholders' meeting.

During the meeting, OVY, LRY, Yanson-Dumancas, Dumancas, Rey Ardo, Villaruel, Anita Chua, Daniel Nicolas Golez, Hernan Omecillo, Danny Lorenton, and Alfredo Ligo Jr. were re-elected as members of the Board of Directors.

In the organizational meeting, LRY was then re-appointed as chairman of the Board and president of BEI, while OVY was re-appointed as BEI's corporate secretary and treasurer.

LRY and OVY were also elected to the same positions for the Mindanao Star Bus Transport Incorporated (MSBTI) during its annual stockholders and organizational meeting on January 16.

LRY, Yanson-Dumancas, Dumancas, Ardo and Villaruel were also re-elected as members of MSBTI's Board of Directors.

Meanwhile, the four siblings of the Yanson family also held a separate annual meeting of the Mindanao Star Bus Transport Inc. shareholders held on January 16, 2021 at Seda Centrio Hotel in Cagayan de Oro City, presided by Carlo Joaquin T. Narvasa as proxy for Ricardo V. Yanson, Jr., its President and Chairman of the Board of Directors.

The Yanson 4 asserted that they maintain control of the Mindanao Star Bus Transport Inc.

The meeting was attended by stockholders representing 99.99 percent of the outstanding capital stock of the corporation, Narvasa said in a press statement.

Roy V. Yanson, Emily V. Yanson, and Ricardo V. Yanson, Jr. were elected by the shareholders as members of the Board of Directors for the Year 2021-2022.

The stockholders ratified all acts and transactions of the Board of Directors and management of the corporation under the leadership of its president Ricardo V. Yanson Jr.

In the organizational meeting that followed, the directors elected Ricardo V. Yanson Jr. as chairman of the Board of Directors and president, Roy V. Yanson as vice-president for Operations, Emily V. Yanson as treasurer and chief financial officer, Ma. Lourdes Celina Y. Lopez as corporate secretary, Anna Isabella C. Galvez as assistant corporate secretary, and Carlo Joaquin T. Narvasa as vice-president for Legal.

The new directors of the company also vowed to continue court actions to unravel minority shareholders' activities and their pretense to act on behalf of the company despite the absence of any legal basis for them to do so, Narvasa said.

It can be recalled that the Ceres Liner Travel and Tours Inc. (CLTTI), also a sister company of the Vallacar Transit Inc. (VYI) under the YGBC, also held its annual stockholders meeting at its principal office in Barangay Mansilingan, Bacolod City last January 4.

During the meeting, OVY, LRY Yanson-Dumancas, Dumancas, Chua, Villaruel and Golez were re-elected as members of the Board of Directors.

The board then held an organizational meeting where LRY was re-appointed as the chairman and president of CLTTI.

The Yanson matriarch, meanwhile, was re-appointed as its corporate secretary and treasurer.

The controlling camp further said that despite due notice, stockholders Roy V. Yanson, Ma. Lourdes Celina Yanson-Lopez, and Ricardo V. Yanson Jr. were absent.

LRY said that despite the challenges faced by the company in 2020, these companies remain strong and resilient.

It continues to be steadfast in its goal to serve the Filipino people, and remains committed to providing the riding public with the most reliable means of public transportation for all, he added.

LRY camp further said: "The newly appointed Board is excited to see how they can continue to push boundaries to provide quality transportation to every Filipino despite the challenges brought by the pandemic."


VIEW COMMENTS
DISCLAIMER:

SunStar website welcomes friendly debate, but comments posted on this site do not necessarily reflect the views of the SunStar management and its affiliates. SunStar reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.


Forum rules:

Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent. Do not shout or use CAPITAL LETTERS!