Amos Netzer has been named the new chief executive for Shamir Optical Industry; he will replace Eyal Hayardeny as of July 1. Netzer, 53, comes from Spirit Economic Consultants, where he is CEO. He was an external director on Shamir's board until April 2007. Hayardeny resigned. Meanwhile Shamir has received a notification from Nasdaq that it no longer complies with the rule stating that its listed companies must have at least three independent members on its audit committee. Joseph Tzur resigned from the Israeli company's audit committee last month, leaving only two independent members serving. Shamir has a period of time to get back in compliance, which is dependent on when its next annual shareholders' meeting is. It could be as early as Sept. 16 or as late as March 20, 2010. Until then, the company will continue to trade on Nasdaq, as long as it continues to comply with other stipulations. It has been reported that Shamir is in the process of replacing Tzur and expects to be in compliance with the regulation within the set time limit.