ROY TAKES OVER CERES TERMINAL: I am not disrupting company operations, says Leo Rey

By: Dolly Yasa

BACOLOD City – Ousted Vallacar Transit Inc. (VTI) president Leo Rey Yanson said he is not the one disrupting the operations of their company.

Leo Rey issued the statement in answer to his elder brother Roy who was installed by his three other siblings at VTI’s helm.

Leo Rey, his sister Ginneth and mother Olivia held a press conference on Saturday after Roy’s group took over VTI’s South Bus Terminal.

“It boggles the mind on how Roy and his ilk can play the victim card well. By filing an injunction case similar to mine, they confuse the public, except those who know the facts, to make it appear that I was the one disrupting our operations. This company has been performing well for the past decade under my watch,” he said.

Leo Rey said Roy even agreed with his point in a speech to VTI employees during their father’s birthday celebration on July 2, 2019.

“Five days later, they illegally placed themselves as the new officers and declared to have removed me for loss of trust and confidence. I have always made sure to share the company’s blessings to our employees. For the past twelve years in my entire stay in Ceres, I gave my entire salary and a significant portion of my share of the dividends to our employees to motivate them to work hard for the company. Ever since I became president, I would always fight my siblings during board meetings to increase the salary of everyone who worked for us. Do they begrudge me from lifting up the livelihood of our people even if they themselves get so much money already?” Leo Rey said.

Siding with Roy in the rift are his siblings Celina Lopez, Emily and Ricky Jr. while clan matriarch Olivia and another sister, Ginneth, are with Leo Rey.

Leo Rey said his siblings have been itching to replace him last year but they backtracked for lack of support from the employees.

As to Roy’s accusation that he is destroying their father’s legacy, Leo Rey said “Is the company’s 300 percent growth during my term an act of destroying our father’s legacy? Our operations have been running smoothly and efficiently. It only stumbled when they came like thieves in the night and took control of our head office.”

NO SHARES OF STOCK

Ginneth Yanson Dumancas, who is siding with Leo Rey Yanson, revealed that their sister Emily does not own a single share in the company.

The Yanson family feud over Yanson Group of Bus Companies (YGBC) has been running for more than two weeks now.

“That is why we are saying that their take over is illegal, for how can she be a director if she is not a shareholder,” Ginneth said.

She added that Emily, who is the corporate secretary, allegedly made it appear that she (Emily)is member of the board of directors.

On the other hand, Ginneth said that their mother, Olivia, still has shares of stocks but was not listed in the General Information Sheet (GIS) by Emily.

“How can she vote because she has no shares of stocks and thus is not a director?” Ginneth asked.

Ginnette also questioned the takeover of the south terminal saying that the Temporary Restraining Order sought by Roy’s group was denied as the court did not act on it.

She added that there should have been status quo even as she asked her siblings to wait for the court order.

Leo figured in a verbal spat with Roy at the northern terminal after the latter with his lawyers and policemen replaced the guards in the area.

Roy said they are staying put and are waiting for the court decision so he hopes the other group would also do the same.

He said that after the “illegal take over” of his siblings, he reached out to Roy to settle the situation.

Leo Rey said he and Roy reached an agreement as they met twice and talked but after the latter talked to Celina and Emily, Roy backed out.

He also explained that he proposed the coin toss scheme to settle the problem in order to be fair to all.

Leo Rey also revealed he has once decided to let go of the company and has asked Roy to take over but the later declined saying that he (Leo Rey) running the company is good.

He lamented the present situation they are in now saying that “nagdaku man ang company nga wala mga abogado, subong damu na abogado.”