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Former Virginia National Bank Chairman Mark Giles said the bank's silence pushed him to make public his desire for changes to the board.
Giles stepped down from the role of chairman at Charlottesville, Va.-based Virginia National in December 2011. In March, Giles sent a letter to sitting Chairman William Dittmar Jr. outlining an alternative slate of directors and stating his willingness to return as chairman on certain conditions.
This disclosure, which was attached as an exhibit to a May 3 ownership filing, came after the bank named five new board nominees in proxy materials dated April 16, but did not mention Giles' overture from the prior month.
During a May 11 interview, Giles said Virginia National's proxy materials, which were "totally silent" on the subject...