The Yanson 4 elected Roy Yanson president and chairman of Rural Transit (Mindanao) Inc. in a separate stockholders meeting at SEDA Centrio Hotel, Cagayan de Oro City, Wednesday, February 10, a press release from their lawyer said.
The stockholders meeting was presided by John Matthew Medina as proxy for Roy Yanson. It was attended by stockholders representing 61.17 percent of the outstanding capital stock of the corporation, their lawyer Carlo Joaquin Narvasa said.
Roy Emily and Ricardo Yanson and their sister Ma. Lourdes Celina Y. Lopez, also known as the Yanson 4, Jerina Louise Y. Ramos and Matthew Agustine Y. Lopez were elected by the shareholders anew as members of the Board of Directors of the corporation for the year 2021-2022, Narvasa said.
In the organizational meeting that followed, the directors elected Roy as chairman and president of RTMI, Celina – vice president for operations, Emily – treasurer and chief financial officer, Ricardo – corporate secretary, Anna Isabella C. Galvez – assistant corporate secretary, and Narvasa – vice president for legal.
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, the press release said.
The camp of the Yanson 4’s mother, which has physical control of the company, also held a separate RTMI stockholders meeting Wednesday.
In that stockholders meeting their brother Leo Rey V. Yanson was re-appointed chairman of the board and president of RTMI, while their mother Olivia V. Yanson was re-appointed corporate secretary and treasurer, a separate press release said.*