Turner to step down at Xenith

Published 11:07 pm Friday, March 22, 2013

James E. “Jim” Turner Jr. will retire from the board of directors at Xenith Bankshares Inc, effective with the company’s May 2 annual meeting of shareholders, officials announced on Thursday.

Turner is the former president and chief executive officer of General Dynamics Corp and served as a founding director of SuffolkFirst Bank from that bank’s creation in 2001 until its merger with Xenith Bank in 2009, continuing on the board of directors of the merged bank in the years that followed.

Also retiring will be Brian D. Jones, a principal and co-founder of BankCap Partners, the company’s largest shareholder.

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Turner and Jones will also retire from Xenith Bank’s board of directors.

“Jim has provided us with tremendous leadership and expertise from our earliest days,” said T. Gaylon Layfield III, president and CEO. “We greatly appreciate his dedication to our company.”

BankCap principal and co-founder Scott Reed continues as a member of the board and will stand for re-election at the annual meeting.

The company also announced that its board has nominated Thomas G. Snead, Jr. for election to Xenith Bankshares’ board of directors at the upcoming annual meeting.

Snead is the former president and CEO of Wellpoint Inc., Southeast Region, previously served as president of Anthem Southeast, and chairman and CEO of Trigon Healthcare Inc. Snead served on the board of LandAmerica Financial Group Inc.

He currently serves on the board of directors of CSA Medical Inc., as well as several community organizations, including the ChildFund International, the Community Foundation and the Virginia Commonwealth University School of Business School Foundation.