Bio-Rad Short One Director for NYSE Rules

NEW YORK (GenomeWeb News) – The New York Stock Exchange has notified Bio-Rad Laboratories that it is not in compliance with exchange rules due to the resignation of a member of its board of directors and audit committee.

The NYSE said that the firm must have three independent directors of its audit committee to remain in compliance with market rules.

The recent resignation of Ruediger Naumann-Etienne left the company short one independent director for its audit committee. The firm has said that it is actively seeking a replacement for Naumann-Etienne and intends to regain compliance "as soon as practicable."