One of the siblings of Roy Yanson, president of Vallacar Transit Inc. (VTI), has expressed willingness to ammicably settle the management of the country’s biggest bus company.
“We respect and admire the hand of reconciliation extended by our brother Roy. We love and respect our mother. While reconciliation is not farthest from our minds, it must however, be within the bounds of law and justice,” said Emily Yanson, one of the board members and vice president for administration of VTI.
Vallacar Transit Inc. is the largest subsidiary of the Yanson Group of Bus Companies and is the company behind Ceres Liner and Sugbo Transit.
The Yanson Group, the parent company, is one of the largest bus conglomerates in Southeast Asia which operates more than 4,000 buses nationwide.
A boardroom battle ensued on July 7, 2019 when four Yanson siblings, in a purported special board meeting, unseated Leo Rey Yanson as VTI president, and was subsequently replaced by his eldest brother Roy.
“Leo Rey must first stop committing acts beyond the bounds of the law, and follow the Family Constitution, and the shareholder’s agreement which he himself agreed and signed in 2010 and 2013 respectively.”
“Since Leo Rey himself wants to end this via the conciliation route, everything must be in accord with the law. Leo Rey must end extra-legal acts which complicates this issue,” Emily added.
Emily is referring to the recent meeting called by Leo Rey last Monday which was portrayed to the media as a legitimate one. As a former president, Leo Rey does not have the authority to call for a meeting.