THE four siblings of the Yanson family known as the Y4 said they retained their posts after the shareholders meeting of another transport company owned by the family.
In a press statement, lawyer Carlo Joaquin Narvasa confirmed that Bachelor Express Inc. held its annual shareholders on January 12, 2021 at Seda Centrio Hotel in Cagayan de Oro City and that he was proxy for Ma. Lourdes Celina Yanson Lopez, its president and chairman of the Board of Directors.
It was attended by stockholders representing 99.99 percent of the outstanding capital stock of the corporation, Narvasa said.
Roy V. Yanson, Emily V. Yanson, Ma. Lourdes Celina Lopez, Ricardo V. Yanson Jr., Jerina Louise Ramos and Matthew Agustin Y. Lopez were elected by the shareholders as new members of the Board of Directors for the Year of the Corporation for 2021-2022.
The shareholders ratified all acts and transactions of the Board of Directors and management of the corporation under the leadership of its president Ma. Lourdes Celina Y. Lopez.
In the organizational meeting that followed, the directors elected Ma. Lourdes Celina 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, Ricardo Yanson 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 added.
Narvasa said the Y4 has also maintained its control over Mindanao Star Bus Transport Inc., which is also owned by the family, during its annual stockholders' meeting on January 16.
Meanwhile, the camp of Leo Rey (LRY) and Olivia Yanson (OVY) also held a separate stockholders meeting to assert their right to the biggest bus company in the country.
LRY's camp held its annual meeting of stockholders for Ceres Liner Travel and Tours Inc. on January 4 at its principal office in Barangay Mansilingan, Bacolod City. OVY and LRY remain in control, a press statement from their camp stated.
During the meeting, OVY, LRY, Ginnette Y. Dumancas, Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel and Daniel Nicolas Golez were re-elected as members of VTI's Board of Directors.
The Board thereafter held an organizational meeting and LRY was re-appointed as chairman of the Board and president of CLTTI, while OVY was re-appointed as CLTTI's corporate secretary and treasurer.
Despite due notice, stockholders Y4 were reportedly absent.
LRY confirmed that despite the challenges faced in 2020, the Yanson Group of Bus Companies remain committed to providing the riding public with the most reliable means of public transportation for all.