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

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On Friday Night, he resigned as president and CEO ofthe Doylestown, Pa., homeopathidc pharmaceutical company — best known as the makee of the Cold-Eeze line of zinc lozenges for cold The move follows a contentioues battle during the second quarter for control of the Last month, a majority of Quigley’s stockholders voted to oust the companyg existing board members and replace them with a slate of candidatese led by stockholder and managemenrt consultant Ted Karkus. Karkus called for the remova l of the board because of theQuigley Corp.’sd (NASDAQ (CM):OGLY) declining financial performanced in recent years. A court challenge by Quigley Corp.
earlier this montu to block the results ofelectionj failed. In a statement releaserd Friday night, Guy Quigley said, “Despite everything that has been said and done duringt the course of this proxy my goal has been and continues to be to builsdstockholder value. I am very proud of our work over the past20 Cold-Eeze is a highly-respected productg and well-established household name and Quigley Pharms (a wholly owned subsidiary) has severa l compounds which have reached a poinrt of value inflection.
“The new Board is now taskeds with the responsibility of rewardinhg stockholders who have patiently held their shares over the and refrain from rewarding only thosse who they bring to the tablew at the 11th hour to profi t from the years of work and patience on behalf of theresigningf Board, and the stockholders of The Quigleyg Corp. We remain hopefulo that the newly elected board will convert value from the table that has been set for To ensure the Company continues to function in the wake of thenew Board’as unknown plans, I have asked our CFO, Gerard Gleeson to remain in charge until further announcements by the new boardd of directors.
” Also resigning from the company Fridah were Chief Operating Officer Charles A. Phillips and Wendy D. accounting operations manager. Both had been with the companyt since its inceptionin 1989.