Leo Rey Yanson was reelected chairman and president of Bachelor Express Inc. (BEI) today, January 17, and Mindanao Star Bus Transport Inc. (MSBTI) on Saturday, January 16, tightening his physical control over the family-owned Yanson Group of Bus Companies, a press release from his camp said.
However, his siblings in separate stockholders meetings also elected his brother Ricardo V. Yanson Jr. as president and chairman of MSBTI, and his sister Lourdes Celina Y. Lopez as president and chairman of BEI.
At a BEI annual stockholders meeting, Leo Rey was re-appointed chairman and president of the company, and Yanson matriarch Olivia V. Yanson as corporate secretary and treasurer.
During the meeting, Olivia, Leo Rey, Ginnette Y. Dumancas, Charles M. Dumancas, Rey C. Ardo, Arvin John V. Villaruel, Anita G. Chua, Daniel Nicolas P. Golez, Hernan B. Omecillo, Danny O. Lorenton, and Alfredo O. Ligo Jr. were re-elected as members of the BEI Board of Directors.
“Despite the challenges faced in 2020, The Yanson Group of Bus Companies remains strong and resilient. It continues to be steadfast in its goal to serve the Filipino people. YGBC remains committed to providing the riding public with the most reliable means of public transportation for all”, Leo Rey said.
BEI is one of the three subsidiaries of the Yanson Group of Bus Companies serving the island of Mindanao. The other two are MSBTI and Rural Transit Mindanao Inc.
At the MSBTI stockholders meeting Saturday, January 16, Leo Rey, Ginnette and Charles Dumancas, Ardo and Villaruel were also re-elected as members of MSBTI’s board of directors.
Leo Rey was then re-appointed as chairman of the board and president of MSBTI and Olivia as corporate secretary and treasurer.
Despite the proper and timely notice given, the other Yanson siblings were absent at the BEI and MSBTI stockholders meetings and are believed to be out of the country, the press release from the LRY camp said.
They have pending warrants of arrest, the press release said.
Meanwhile, the camp of the four other siblings in a press release sent by their lawyer Carlo Joaquin Narvasa said they also held an MSBTI annual stockholders meeting at SEDA Centro Hotel in Cagayan de Oro City Saturday.
Narvasa as a proxy for Ricardo presided over the meeting attended by stockholders representing 99.99 percent of the outstanding capital stock of the corporation, the press release said.
Roy, Emily and Ricardo were elected by the shareholders as members of the board of directors for the year 2021-2022.
In the organizational meeting that followed, the directors elected Ricardo as chairman and president of the firm, Roy as vice president for operations and Emily as treasurer and chief financial officer, Lopez as corporate secretary, Anna Isabella C. Galvez as assistant corporate secretary, and Narvasa as vice-president for legal.
Their annual meeting of BEI shareholders Sunday also presided by Narvasa as proxy was attended by 61.18 percent of the outstanding capital stock of the corporation, a separate press release said.
Roy, Emily, and Ricardo Yanson, Lopez, Jerina Louise Y. Ramos, and Matthew Agustine Y. Lopez were elected members of the Board of Directors for the year 2021-2022.
The four Yanson siblings vowed to continue court actions to unravel minority shareholders’ activities and their pretense to act on behalf of both firms despite the absence of any legal basis for them to do so, their press release said.*