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Yanson Group completes subsidiaries’ annual meetings

BY GILBERT P. BAYORAN

The Yanson Group of Bus Companies, which owns the country’s largest bus company, reported that it completed the series of annual meetings of the company’s 10 subsidiaries, which all declared that the group of family matriarch, Olivia V. Yanson, as its controlling owner, a press statement from the camp of Leo Rey Yanson said.

The press statement added that annual stockholders meeting on March 1 of the Countryside Food Resources Corp. held at its principal office in Barangay Mansilingan, Bacolod City ,has completed its series of meetings that it was holding since late last year.

During the organizational meeting of its reelected board members, Leo Rey Yanson was reappointed as chairman and president of CFRC, with Olivia Yanson as corporate secretary and treasuer. Other members of board are Ginnette Y. Dumancas, Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel, Rey C. Ardo and Daniel Nicolas Golez, the press statement added.

On the other hand, the four other Yanson siblings, including Roy, Ricardo Jr, Celina and Emily, also held separate stockholders meeting, where they also elected themselves as corporate officers of YGBC subsidiaries.

The Yanson 4 siblings assailed their “legal right” to assume control and managed the YGBC company, the largest privately-owned transport company in the country that operates 4.800 bus units run by 18,000 employees, with main office in Bacolod City.

Lawyer Carlo Joaquin Narvasa, vice president for legal in the Yanson Four side, in his previous issued statement insisted that they are in charge of the biggest bus company in the country.

Narvasa said 61.18 percent of the company’s outstanding capital stock are registered in the names of his clients, citing the firm’s records before the Securities and Exchange Commission.*

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