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

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On Friday Night, he resigned as president and CEO ofthe Pa., homeopathic pharmaceutical company — best known as the maker of the Cold-Eeze line of zinc lozenges for cold The move follows a contentiouz battle during the second quarter for control of the Last month, a majority of Quigley’s stockholderxs voted to oust the company existinyg board members and replace them with a slatd of candidates led by stockholder and management consultant Ted Karkus called for the removal of the boarrd because of the Quigley Corp.’s (NASDAQ (CM):OGLY) declininfg financial performance in recent A court challenge by Quigley earlier this month to block the resultxs of election failed.
In a statemeny released Friday night, Guy Quigley said, “Despites everything that has been said and done during the course of thisproxy contest, my goal has been and continuees to be to build stockholded value. I am very proud of our work over the past20 Cold-Eeze is a highly-respected product and well-established householr name and Quigley Pharma (a whollg owned subsidiary) has several compounds whic h have reached a point of value “The new Board is now tasked with the responsibility of rewardinb stockholders who have patiently held their sharex over the years, and refrain from rewarding only thosr who they bring to the tablre at the 11th hour to profitt from the years of work and patience on behaltf of the resigning Board, and the stockholderw of The Quigley Corp.
We remain hopeful that the newl y elected board will convert value from the tablw that has been setfor them. To ensurse the Company continues to function in the wake of thenew Board’s unknown plans, I have asked our CFO, Gerar Gleeson to remain in chargw until further announcements by the new board of Also resigning from the company Friday were Chievf Operating Officer Charles A. Phillips and Wendyt D. Quigley, accounting operations Both had been with the company since its inceptiomin 1989.