Vallacar Transit elects Lopez as president

MANILA, Philippines — Yanson-owned Vallacar Transit Inc. held last week its annual stockholders meeting in Bacolod, with shareholders electing Ma. Lourdes Celina Lopez as  president.

The Yanson family of Bacolod, owner of the biggest bus company in the country, has been divided into two warring factions and have been holding separate annual stockholders meetings for Yanson-owned companies.

The two family factions are the so-called Yanson Two comprising of Leo Yanson and sister Ginnette Yanson-Dumancas, together with their mother, family matriarch Olivia Yanson.   The other group comprising of the  Yanson  Four,   include the remaining four Yanson siblings, Ma. Lourdes Celina Yanson Lopez, Roy Yanson, Ricardo Yanson Jr. and Emily Yanson.

In a statement from the camp of the Yanson Four, it said Vallacar Transit held the stockholders meeting on Dec. 5  in SEDA Capitol Central Hotel, Bacolod City presided by Carlo Joaquin Narvasa as proxy for   Lopez, its president and chairman.

It was attended by stockholders representing 61.17 percent of the outstanding capital stock of the corporation.

Siblings Roy,  Emily, Ma. Lourdes Celina and Ricardo Yanson Jr. were elected by the shareholders anew as members of the board of directors of the corporation for the year 2020 to 2021, the statement said.

“The shareholders ratified all acts and transactions of the board of directors and management of the corporation under the leadership of its president Ma. Lourdes Celina Y. Lopez,” the group said.

In the organizational meeting that followed, the directors elected Ma. Lourdes Celina Lopez as president, Roy Yanson 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.