BACOLOD City – The country’s largest bus operator that owns the Ceres buses and four other bus companies has a new set of directors.
On Monday, stockholders of Vallacar Transit Inc. (VTI) re-elected Leo Rey Yanson as the president of the company along with reorganization of the board of directors in a meeting at VTI’s headquarters in Barangay Mansilingan.
VTI legal counsel and spokesperson Jun Maxell Orlina said the meeting was attended by Olivia, Ginnette Dumancas, and her husband Charles Dumancas.
Orlina added they have invited ‘Yanson 4’ siblings – Roy, Ricardo Jr., Emily, and Celina – who were all removed from the board after they failed to appear.
During the election, Charles was appointed as the bus firm’s interim Vice President, Ginnette Dumancas as treasurer, and Olivia Yanson as corporate secretary.
The new set of board of directors also passed resolutions tasking the company’s legal team to recommend possible legal actions against Celina over her P380-million outstanding obligation to the company in accordance with the audit report from SGV accounting firm and on the results of the cash, property and asset inventory audit including documents at the main office and south terminal.
SGV was appointed as the corporation’s external auditors in 2019.
In a separate press conference yesterday, Roy also made a personal stand asking his mother and siblings to meet and sit down.
Roy said he was saddened over the issues that currently plaguing his family.
“I had no intention of bringing our family issues in public and putting ourselves under trial by publicity,” he added.
“As the elder sibling, I am reaching out to my mom, Olivia, and all my siblings; Emily, Ginnette, Celina, Ricky, Leo Rey, let us meet and sit down as one family. Let us set our differences behind us and talk. Let us forgive each other,” Roy said.
He further added they will go nowhere if the current squabble continues.
The Yanson Group, the parent company of VTI, is one of the largest bus conglomerates in Southeast Asia which operates more than 4,000 buses nationwide.
Established in 1968, the 52-year-old conglomerate founded by Ricardo Yanson Sr., the Yanson patriarch, now has a total of 18,000 employees who provide transport services to 700,000 passengers daily.
Last July 7, a boardroom battle ensued when the four Yanson siblings unseated Leo Rey as VTI president.
Leo Rey was subsequently replaced by his eldest brother Roy Yanson.
The special stockholders meeting on August 19 “effectively re-affirmed” Leo Rey as the rightful president of VTI, Orlina said./PN
