Vancouver's finance director officially steps down

Two days after the election of a new mayor, the City of Vancouver has confirmed its director of finance has resigned, but staff remain tight-lipped about why.

On Monday morning, Estelle Lo handed in her resignation effective Nov. 30 to city manager Judy Rogers, the general manager of human resources Kevin Ramsay confirmed.

Rumours of Lo's resignation remained unconfirmed for weeks, following allegations in a newspaper report that she left due to concerns about the controversial $100-million bailout of the Olympic Village development, which came to light in the middle of the recent civic election race.

Ramsay refused to confirm the reason for Lo's resignation.

"It's her own reasons. This is a personal matter. It is also a personnel matter and I'm not willing to discuss it at this time," said Ramsay.

Deputy city manager James Ridge will oversee the city's financial department until a permanent replacement for Lo can be found, said Ramsay.