MANILA, Philippines — The so-called Yanson Four, siblings belonging to a prominent transport industry family, claimed on Monday that they had reelected as corporate officials of the two bus firms they own.
The elections took place during the respective annual stockholders’ meeting of the Mindanao Star Bus Transport Inc. and the Bachelor Express Inc., according to a statement they issued on Monday.
Stockholders representing 99.99 percent of the Mindanao Star’s outstanding capital stock elected siblings Roy Yanson, Emily Yanson, and Ricardo Yanson Jr. as members of the board of directors from 2021 to 2022.
Meanwhile, Ma. Lourdes Celina Yanson was elected as corporate secretary during the organizational meeting.
Ricardo Jr. was elected chair of the board of director and president, Roy as vice president for operations, Emily as treasurer and chief financial officer.
Lawyer Carlo Joaquin Narvasa, who presided over the meeting representing Ricardo, was appointed as the vice president for legal affairs.
“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 Yanson Four said.
For Bachelor Express, the annual stockholder’s meeting was presided by Narvasa as Ma. Lourdes Celina’s official representative.
“It was attended by stockholders representing 61.18 percent of the outstanding capital stock of the corporation. Roy, Emily, Ma. Lourdes Celina and Ricardo Yanson as well as Jerina Louise Ramos, and Matthew Agustine Lopez were elected by the shareholders anew as members of the Board of Directors of the corporation for the year 2021 to 2022,” the Yanson Four said.
Ma. Lourdes was then elected as chairperson of the Bachelor Express board of directors in the subsequent organizational meeting. Roy was placed as vice president for operations, Emily as treasurer and chief financial officer, and Ricardo as corporate secretary.
The separate meetings for Mindanao Star and Bachelor Express were held on Saturday and Sunday, respectively, at a hotel in Cagayan de Oro.
The Yanson Four is in a family feud with their brother, Leo Rey and their estranged mother, Olivia.
Leo Rey and Olivia held their own stockholders meeting during the weekend also, to assert their right to the multibillion bus company, the biggest in the country. According to reports, the Yanson family has a fleet of over 4,800 buses and employees over 18,000.
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