Yanson factions re-elect respective officials for Mindanao branch

By Dolly Yasa

 

BACOLOD City – The two factions of the Yanson family engaged in the long running conflict over control of their family-owned bus company re-elected their respective officials for their Mindanao branch.

In a press statement sent to Daily Guardian here Monday, Atty. Carlo Narvasa, legal counsel of the Yanson siblings Roy, Emily, Celina and Ricardo Jr, also known as the Y4, said the Mindanao Star Transport Inc. conducted the annual stockholders’ meeting held at the Seda Centro Hotel in Cagayan de Oro.

Narvasa, acting as proxy of Ricardo Jr., president and chairman of the board, said it was attended by stockholders representing 99.99% of the outstanding capital stock of the corporation.

Narvasa said Roy, Emily, and Ricardo Jr., were re-elected by shareholders as members of the board of directors for the year 2021-2022.

He said the stockholders ratified all acts of transactions of the board of directors and management of the corporation under the leadership of its president, Ricardo Jr.

In the organizational meeting that followed, the directors elected Ricardo Jr. as chairman of the board of directors and president, Roy as vice president for operations, Emily as treasurer and chief financial officer, Ma. Lourdes Celina V. Lopez as corporate secretary, Anna Isabelle Galvez as corporate secretary, and Carlo Joaquin Narvasa as vice president for legal.

The press statement further said that 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.”

In a separate press statement to Daily Guardian, the group of Leo Rey Yanson, the other faction in the Yanson conflict, said the Southern Star Bus Transport Inc. (SSBTI) held its annual meeting of stockholders with siblings Leo Rey and Ginnette and their mother Olivia Yanson still in control of the corporation.

It further said that during the meeting, Leo Rey V. Yanson, Ginnette Y. Dumancas, Charles M. Dumancas, Olivia V. Yanson and Arvin John V. Villaruel were re-elected as members of SSBTI’s Board of Directors.

Following the election of the directors, the Board held an organizational meeting wherein Leo Rey was re-appointed as chairman of the board and president of SSBTI, while Olivia V. Yanson was re-appointed as SSBTI’s corporate secretary and treasurer.

Leo Rey confirmed that despite the challenges faced in 2020, SSBTI remains strong and resilient.

“It continues to be steadfast in its goal to serve the Filipino people. SSBTI remains committed to providing the riding public with the most reliable means of public transportation for all.”