Yanson 4 elects board of Rural Transit

MANILA, Philippines — Shareholders of Yanson family-owned Rural Transit (Mindanao) Inc. elected anew Roy Yanson as chairman of the company during their shareholders meeting last Feb. 10 in Cagayan de Oro City.

Rural Transit is one of the bus companies under the Yanson-owned bus conglomerate Vallacar Transit Inc.

The family is currently divided into two groups due to an ownership squabble. One group, consisting of Roy, Emily, Ricardo and Ma. Lourdes Celina Yanson is known as the Yanson Four and they claim to have majority ownership. The other group, called the Yanson Two is composed of siblings Leo Rey and Ginette, together with their mother, family matriarch Olivia Yanson.

Representing majority or 61.17 percent of the outstanding capital stock of the corporation, shareholders of Rural Transit elected anew siblings Roy, Emily, Ma. Lourdes Celina and Ricardo Yanson as members of the Board of Directors of the company for the year 2021 to 2022, with Roy Yanson as chairman.

Also reelected to the board were Jerina Louise Ramos and Matthew Agustine Lopez.

The shareholders likewise ratified all acts and transactions of the Board of Directors and management of the corporation under the leadership of its president Roy Yanson.

In the organizational meeting that followed, the directors elected Roy Yanson as chairman of the Board of Directors and president, Ma. Lourdes Celina Lopez as vice-president for operations, Emily Yanson as treasurer and CFO, Ricardo Yanson Jr. as corporate secretary, Anna Isabella Galvez as assistant corporate secretary and Carlo Joaquin Narvasa as vice-president for legal.

On the cases facing the company, the new directors of the company 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.