The Yanson Group, which owns the country’s largest bus company, on Tuesday said it completed the series of annual meetings of the company’s 10 subsidiaries, which all declared that the group of the family matriarch as its controlling owner.
Countryside Food Resources Corp., a unit Yanson Group of Bus Companies, held its annual stockholders meeting at its principal office in Barangay Mansilingan, Bacolod City on March 1, completing its series of meetings that it was holding since late last year.
During the meeting, family matriach Olivia V. Yanson, son Leo Rey V. Yanson, his sister Ginnette Y. Dumancas, Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel, Rey C. Ardo and Daniel Nicolas Golez were re-elected as members of its board of directors.
The board held an organizational meeting and reappointed Leo Rey V. Yanson as chairman and president of CFRC and Olivia V. Yanson as corporate secretary and treasurer.
“Despite the due notice given them, stockholders Roy V. Yanson, Emily V. Yanson, Ma. Lourdes Celina Yanson-Lopez and Ricardo V. Yanson Jr. did not attend the meeting,” the company said in a statement.
Roy, Celina, Emily and Ricky, also known as the Yanson Four, are believed to be hiding overseas as they face several outstanding warrants of arrest for carnapping and for grave coercion issued by the courts of Bacolod City, the statement said.
The said cases were filed against them by the group of the matriach after the Yanson Four wrested control of the company in 2019 by unseating Leo Rey as the president of the bus company. He was replaced by Roy Yanson, the eldest brother.
Leo Rey, with the support of his mother, Olivia V. Yanson and sister Ginnette Y. Dumancas, refused to step down, which started a family feud between the two groups.
The Yanson Group, operates 4,800 bus units run by 18,000 employees, and has its main office in Bacolod City.