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Manila Bulletin devider Business devider Trade & Industry devider Yanson matriarch leads VTI Board election

Yanson matriarch leads VTI Board election

Published Dec 6, 2021 01:13 pm

The board of directors of Vallacar Transit Inc (VTI), the flagship of Ceres bus lines, re-elected Olivia V. Yanson as member during the company's Dec. 4 annual stockholders' meeting.

Vallacar Transit

The Yanson matriarch in her capacity as special administrator and conjugal co-owner, led VTI's Saturday's meeting in Bacolod City.

Earlier, the Bacolod court appointed Yanson as special administrator of the estate of her late spouse, Ricardo B. Yanson.

The couple founded Ceres bus lines.

As special administrator, Yanson is in charge of the preservation and management of Ricardo's estate.

Yanson, along with her son, Leo Rey V. Yanson, daughter Ginnette Y. Dumancas, as well as Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel and Daniel Nicolas Golez were re-elected as members of VTI’s board.

Following the election of the directors, the board held an organizational meeting where Leo Rey Yanson was re-appointed as chairman of the board and president of VTI, while Yanson, the co-founder of the company, was re-appointed as corporate secretary and treasurer.

"Despite proper and timely notice, stockholders Roy V. Yanson, Ma. Lourdes Celina Yanson-Lopez, Ricardo V. Yanson Jr., Juan Manuel Lopez and Ma. Susan F. Yanson did not attend the meeting," the company stated.

Roy, Celina and Ricardo Yanson Jr. had been hiding abroad since March 2020 as fugitives from justice, together with their sister Emily V. Yanson, according to VTI.

In 2019, the siblings deposed their brother, Leo Rey Yanson, from the helm of VTI and installed Roy Yanson in his place via a "special board meeting".

However, six weeks later, Leo Rey Yanson regained his post. Since then, the two feuding factions had been filing suits and counter-suits against each other.

Nevertheless, "despite the turbulence experienced by the management in the past two years, the company remains strong and resilient as it continues to be steadfast in its goal to serve Filipino commuters," VTI assured stockholders.

“The newly appointed board is excited to see how they can continue to push boundaries to provide quality transportation to every Filipino despite the challenges of the pandemic,” the VTI board concluded.

Related Tags

Yanson Group of Bus Companies YANSON SQUABBLING OVER VTI VALLACAR TRANSIT INC VTI 2021 STOCKHOLDERS MEETING
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