Opascor workers, shareholders urge CEO Riveral to step down

Over a hundred workers, retirees, and shareholders of the Oriental Port and Allied Services Corporation (OPASCOR) are calling for Lawyer Tomas Riveral, the chief executive officer, to step down and vacate his position on Tuesday, September 17.

CEBU CITY, Philippines – Over 200 workers, retirees, and shareholders of the Oriental Port and Allied Services Corporation (OPASCOR) have petitioned for the immediate resignation of CEO Lawyer Tomas Riveral and General Manager Florimae Velasco.

They cited two decades of alleged mismanagement and lack of accountability.

The petition, filed on September 17, demands that both officials vacate their positions to “save the company from further damage.”

Dennis Arciaga, barangay captain of Tinago, Cebu City, and current president of Local 1 Union, which is made up of Opascor workers, voiced the frustration of the petitioners, many of whom allegedly had seen their concerns ignored for years.

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“Ania mi karon, nisyagit tungod sa pagpanlugpig, dili na maayo og pagdala sa management. Gamay kaayo ila panan-aw sa mga tawo labi na karon mga liderata sa board nga puro na lang ni appointed,” Arciaga said in an interview with CDN Digital.

(We are here now, shouting because of them looking down on us, and the management not taking care of the company. They are narrow minded when they are dealing with people especially now that the leadership are all appointed.)

He pointed out that the absence of board elections over the past 20 years has left many workers and shareholders feeling marginalized.

“Ang gipaabot sa mga retirees ug mga mamumuo nga dapat mag-election gyud kay sa balaod kada tuig man,” he added.

(What the retirees and the workers are waiting is that there will be an election because the law says it should be held every year.)

The petition accuses Riveral of operating Opascor without proper oversight. It cites years of non-disclosure of financial statements, failure to hold mandatory elections for board members, and allowing personal business interests to interfere with corporate decisions.

According to the document, this lack of transparency has left workers, retirees, and shareholders in the dark about the true financial status of the company and its subsidiaries.

Allegations of mismanagement and nepotism

One of the strongest accusations in the petition involves the alleged conflict of interest surrounding Riveral’s leadership.

The petition states that Riveral allowed his family-owned company, ZRI, to do business with Opascor, a clear breach of corporate ethics.

“Allowing ZRI, his family-owned company, to do business with Opascor, which is a conflict of interest considering that he is the chairman of the board and the CEO of the company,” the petition reads.

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The workers and shareholders also raised concerns about the misappropriation of real properties purchased by Opascor.

The petition claims that the company’s assets, including those in Bohol, Talisay, and other areas, were titled under the names of Riveral’s close allies rather than under Opascor itself.

Further compounding the issue is the accusation of nepotism, with Riveral allegedly placing inexperienced family members and close associates in high-ranking positions. His son, who reportedly lacks the necessary qualifications, was appointed as operations manager, while his brother was installed as assistant manager of the motor pool.

Workers left behind

Opascor employees, who form the backbone of the company, have borne the brunt of these alleged mismanagement practices.

The petition highlights the company’s failure to implement promised wage increases and the curbing of overtime opportunities under the guise of “cost savings.”

Meanwhile, retirees, some of whom have worked for decades, remain without the financial support they were promised.

The petition also accuses Riveral and Velasco of prioritizing personal projects over the needs of their workforce.

“Building of church and giving large donations to their religion while not prioritizing the plight of retirees and stockholders,” the petition reads.

It also points out that the leadership has neglected its duty to the workers and shareholders in favor of lavish expenditures.

Who is Tomas Riveral?

Tomas Riveral has been at the helm of Opascor for over two decades, leading one of the most significant stevedoring and cargo-handling corporations in Cebu.

Under his leadership, Opascor has been involved in various expansion projects, including the acquisition of properties across multiple provinces. However, critics, including those who signed the petition, argue that these expansions have come at the expense of the company’s rank-and-file workers and stockholders.

Arciaga said that the petition reflects years of pent-up frustration among the employees, retirees, and owners of Opascor.

“Dili lang kami mga mamumuo, pero pati ang mga shareholders naglagot na og maayo,” he said.

(It is not only us the workers, but also the shareholders are very angry.)

He added that many would be ready to take legal action if their demands would not be met.

Opascor is a worker-owned and -operated Filipino company providing port services to vessels calling at the Cebu International Port (CIP). It is responsible for various port services, including the loading and unloading of cargo from ships, storage, and other logistics-related activities at the port.