THE battle for control of Vallacar Transit Inc. the country’s biggest bus company, continues as the two Yanson factions yet again held two separate stockholders meetings and elected two different sets of officers over the weekend.
The camp of Leo Rey Yanson (LRY), who is in control of the company's operations held its annual stockholders meeting at the company's principal office at Barangay Mansilingan in Bacolod City.
In a press release, the LRY camp said Olivia V. Yanson, Leo Rey Yanson, Ginnette Yanson-Dumancas, Charles Dumancas, Anita Chua, Arvin John Villaruel and Daniel Nicolas Golez were elected as members of VTI's Board of Directors during the meeting.
Following the election of the directors, the Board held an organizational meeting wherein Leo Rey Yanson was re-appointed as chairman of the Board and president of VTI, while the Yanson matriarch was re-appointed as the corporate secretary and treasurer.
"Despite all the turbulence experienced by the management in the past two years, VTI remains strong and resilient. It continues to be steadfast in its goal to serve the Filipino people," the firm said adding that it continues to pursue its mission of helping alleviate the burden of every Filipino by providing safe and quality transportation to everyone.
LRY camp assured that "the newly appointed Board is excited to see how they can continue to push boundaries to provide quality transportation to every Filipino in this great nation despite the challenges of the pandemic."
The other faction composed of the four Yanson siblings: Roy, Emily, Ricardo Jr., and Ma. Lourdes Celina Yanson Lopez, has reelected Ma. Lourdes Celina as its president.
In a press statement, Atty. Carlo Joaquin Narvasa stated that VTI has concluded its annual stockholders' meeting on December 5 in Seda Capitol Central Hotel, Bacolod City which he presided as proxy for Lopez who is the President and Chairman of the Board.
Roy Yanson, Emily, and Ricardo Yanson were elected by the stakeholders anew as members of the board of directors of the corporation for year 2020-2021, Narvasa also said.
" The shareholders ratified all acts and transactions of the Board of Directors and management of the corporation under the leadership of Lopez," Narvasa said.
Aside from Lopez, the directors also elected Roy Yanson as Vice President for Operations, Emily Yanson as treasurer and Chief Financial Officer, Ricardo Yanson, Jr. as Corporate Secretary, Anna Isabella Galvez as Assistant Corporate Secretary and Narvasa as Vice President for Legal, the Press Release stated.
Vallacar Transit Inc. is the first and largest subsidiary of the Yanson Group of Bus Companies with operations in the cities of Bacolod, Iloilo, Dumaguete, Cebu, Cagayan De Oro, Butuan, Davao, Pagadian, Dipolog, Bohol, and Batangas.
