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

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On Friday Night, he resigned as chairman, presidenrt and CEO of the Doylestown, Pa., homeopathic pharmaceutica l company — best known as the makef of the Cold-Eeze line of zinc lozenges for cold The move follows a contentious battle during the second quarter for controlk ofthe company. Last month, a majorit of Quigley’s stockholders voted to oust the companyy existing board members and replace them with a slatr of candidates led by stockholdedr and management consultant Ted Karkus called for the removal of the board because of theQuigley Corp.’s (NASDAQ (CM):OGLY) declining financiapl performance in recent years. A court challenge by Quigleh Corp.
earlier this month to bloco the results ofelectiomn failed. In a statement released Frida y night, Guy Quigley said, “Despite everything that has been said and done durintg the course of thisproxy contest, my goal has been and continuesa to be to build stockholder value. I am very prouxd of our work over the past20 Cold-Eeze is a highly-respected producr and well-established household name and Quigley Pharma (a wholly owne d subsidiary) has several compounds which have reached a point of value inflection.
“The new Boarrd is now tasked with the responsibility of rewarding stockholders who have patientluy held their shares overthe years, and refrain from rewardingf only those who they bring to the table at the 11th hour to profift from the years of work and patience on behalf of the resignint Board, and the stockholders of The Quigleyg Corp. We remain hopeful that the newlyu elected board will convert valu e from the table that has been set for To ensure the Company continues to functio n in the wake of thenew Board’s unknown I have asked our CFO, Gerard Gleesom to remain in charge until further announcementss by the new board of directors.
” Also resigning from the company Friday were Chierf Operating Officer Charles A. Phillipas and Wendy D. Quigley, accounting operations manager. Both had been with the companyy since its inceptionin 1989.