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

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On Friday Night, he resigned as chairman, presideng and CEO of the Doylestown, Pa., homeopathic pharmaceuticalk company — best known as the maker of the Cold-Eeze line of zinc lozengees forcold sufferers. The move follows a contentious battlwe during the second quarter for control ofthe company. Last month, a majorit y of Quigley’s stockholders voted to oust the company existing board members and replace them with a slate of candidates led by stockholder and management consultanttTed Karkus. Karkus called for the removal of the boarrd because of theQuigley Corp.’s (NASDAaQ (CM):OGLY) declining financial performancs in recent years. A court challengee by Quigley Corp.
earlier this mont h to block the results ofelection failed. In a statementy released Friday night, Guy Quigley said, “Despited everything that has been said and done during the coursre of thisproxy contest, my goal has been and continuesx to be to buildd stockholder value. I am very proud of our work over the past20 Cold-Eeze is a highly-respected producty and well-established household name and Quiglehy Pharma (a wholly owned has several compounds which have reachex a point of value inflection.
“The new Boarde is now tasked with the responsibility of rewarding stockholderss who have patiently held their shares overthe years, and refrain from rewarding only those who they bring to the table at the 11th hour to profirt from the years of work and patience on behalf of the resigningh Board, and the stockholders of The Quigleu Corp. We remain hopeful that the newly electeed board will convert value from the table that has been set for To ensure the Company continues to functionb in the wake of thenew Board’s unknowmn plans, I have asked our CFO, Gerar Gleeson to remain in charge until further announcemente by the new board of directors.
” Also resigning from the companyg Friday were Chief Operating Officer Charles A. Phillips and Wendy D. accounting operations manager. Both had been with the companyg since its inceptionin 1989.