The recent death of a Cognex Corp. board member has prompted Nasdaq to issue a notice of noncompliance with audit committee requirements to the Natick-based firm, the Boston Business Journal reports.
William Krivsky died in December, effectively leaving only two members on the board’s audit committee. Per Nasdaq requirements, a company is to have an independent, three-member audit committee.
According to the report, Cognex has until June 21 to add a third independent member to its audit committee. Cognex has already launched a search to fill the position, which is expected to be filled on or prior to the deadline date.
Cognex manufactures machine vision sensors and systems.
