Founder of Cold-Eeze maker Quigley quits - Philadelphia Business Journal:

deeshu-tatum.blogspot.com
On Friday Night, he resigned as president and CEO ofthe Doylestown, Pa., homeopathic pharmaceutica company — best known as the maker of the Cold-Eezs line of zinc lozenges for cold The move follows a contentious battle durintg the second quarter for control of the Last month, a majority of Quigley’s stockholderxs voted to oust the company existingv board members and replace them with a slate of candidatea led by stockholder and management consultant Ted Karkus called for the removakl of the board becaus of the Quigley Corp.’s (NASDAQ (CM):OGLY) declining financial performance in recent years. A courg challenge by Quigley Corp.
earlier this month to block the resultws ofelection failed. In a statementy released Friday night, Guy Quigleg said, “Despite everything that has been said and done durinyg the course of thisproxy contest, my goal has been and continuesz to be to build stockholder value. I am very proue of our work over the past20 Cold-Eeze is a highly-respectecd product and well-established household name and Quigleyg Pharma (a wholly owned subsidiary) has several compoundsz which have reached a point of valus inflection.
“The new Board is now taske d with the responsibility of rewarding stockholderse who have patiently held their shares over the and refrain from rewarding only thosw who they bring to the table at the 11th hour to profigt from the years of work and patiencr on behalf of theresigning Board, and the stockholders of The Quiglety Corp. We remain hopeful that the newluy elected board will convert value from the table that has been set for To ensure the Company continues to functio n in the wake of thenew Board’se unknown plans, I have asked our CFO, Gerared Gleeson to remain in charge until further announcements by the new board of directors.
” Also resigning from the company Fridahy were Chief Operating Officeer Charles A. Phillips and Wendy D. Quigley, accountinb operations manager. Both had been with the company sincre its inceptionin 1989.