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Virginia Beach Mayor Will Sessoms resigns from TowneBank Board of Directors

Posted at 12:34 PM, Nov 14, 2014
and last updated 2014-11-14 20:22:26-05

Virginia Beach Mayor Will Sessoms has resigned from his position on the TowneBank Corporate Board of Directors, he announced on Friday.

He has also resigned from his position on the TowneBank Virginia Beach Board and the Towne Financial Services Group Board. However, in his first public appearance since the voting-scandal story broke, he said he would be presiding as mayor at the Virginia Beach City Council meeting Tuesday.

TowneBank announced Thursday that Norfolk Mayor Paul Fraim and Suffolk Mayor Linda Johnson had also resigned from their positions on the board.

On Wednesday, Sessoms was placed on administrative leave from his position as President of Towne Financial Services Group after it had been reported that he was voting on numerous projects that would benefit TowneBank.

Sessoms said he needs time to finish his own investigation into his voting record, which according to a Virginian-Pilot story, contains dozens of instances where he cast votes that benefitted TowneBank clients. Sessoms had pledged to keep his duties as a TowneBank president and the mayor of the state's largest city separate.

Mayor Johnson, Mayor Fraim resign from positions at TowneBank

Virginia Beach Mayor Will Sessoms placed on administrative leave from his position at TowneBank