The Nasdaq stock exchange has notified Black Diamond that it has the time until the next shareholders' meeting, scheduled for June 5, 2015, to appoint one more independent director to its board, or else it will risk losing its listing. The company said on April 30 that it was only nominating six directors because it had been unable to find another suitable member for its board. Three of the existing directors - Warren B. Kanders, Robert R. Schiller and Peter Metcalf - are regarded as insiders because they are officers of the company. They are also its three biggest shareholders. The biggest one is Kanders, who shared ownership of Clarus Corporation, the former owner of Gregory Mountain Products, together with Schiller prior to its merger with Black Diamond Equipment. They are the executive chairman and executive vice chairman of Black Diamond Inc. Metcalf is Black Diamond's president and chief executive.

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