AFFECTED passengers are expected to have a sigh of relief after the stockholders of Vallacar Transit, Inc., the country’s largest bus transport company, elected a new set of Board of Directors who accordingly re-elected Leo Rey Yanson as the president of the company.
During a special stockholders meeting which was held at the company’s main office in Barangay Mansilingan in Bacolod City last Monday, the stockholders which included Yanson matriarch Olivia V. Yanson, elected Leo Rey Yanson, Olivia V. Yanson, Ginnette Y. Dumancas, and Charles M. Dumancas as members of the Board of Directors.
Right after the election of the new directors, the board held a re-organizational meeting and re-elected Leo Rey Yanson as the president of the company.
Also elected were Charles M. Dumancas as vice president, Ginnette Y. Dumancas as treasurer, and Olivia V. Yanson as the corporate secretary.
The board likewise passed resolutions tasking the company’s legal team to recommend possible legal action or actions against certain individuals regarding outstanding obligations to the company, based on the audit report from SGV & Company, and on the results of the cash, property and asset inventory audit, including documents at the company’s Main Office and South Terminal.
It was learned that the SGV group was appointed as the corporation’s external auditors for the year 2019.
Vallacar Transit, Inc. is said to be the largest subsidiary of the Yanson Group of Bus Companies, and is the company behind Ceres Liner and Sugbo Transit.
The Yanson Group, the parent company, is said to be among the largest bus conglomerates in Southeast Asia which operates more than 4,000 buses in the different areas of the country.
Established in 1968, the 52-year-old conglomerate which was founded by Ricardo Yanson Sr., the Yanson patriarch, now has a total of 18,000 employees who provide transport services to some 700,000 passengers daily.
The company now has 15 bases of operations in the cities of Bacolod, Iloilo, Dumaguete, Cebu, Cagayan De Oro, Butuan, Davao, Pagadian, Dipolog, and even in Batangas and Bohol provinces.
It can be recalled that a boardroom battle ensued on July 7 when four Yanson siblings, in a special board meeting, unseated Leo Rey Yanson as the president of Vallacar Transit, Inc., where Leo Rey was subsequently replaced by his eldest brother Roy Yanson.
The special stockholders meeting on Aug. 19, however, effectively re-affirmed Leo Rey Yanson as the rightful president of Vallacar Transit.
Following the innovations introduced by technology savvy Leo Rey Yanson, the Vallacar Transit, Inc., the mother company of Ceres Bus Lines, is now known to be among the safest transport systems in the country with the installation of global positioning system (GPS) trackers in all of its bus units.
The GPS trackers would allow the main office to monitor the speed of its buses, which will prohibit bus drivers from cruising more than 70 kilometers per hour to reduce or prevent untoward road accidents.
Considering these positive developments, the commuting public can again travel safely without a glitch. ([email protected]/PN)