Shenandoah TelecommunicationsCo. regained compliance with Nasdaq Stock Market LLC's listing rulesafter the company appointed Leigh Ann Schultz an independent director and a memberof its audit committee.
Schultz, who was appointed to the board July 18, replaces JonelleSt. John, who resigned in April. As a consequenceof St. John's resignation, the company was unable to comply with the Nasdaq listingrule that requires the audit committee of a listed company to be composed of atleast three independent directors.
With Schultz's appointment, the company now has three independentdirectors on its audit committee, and is compliant with the listing rule, accordingto a July 21 SEC filing.