DOYLESTOWN, Pa., June 12 /PRNewswire-FirstCall/ -- The Quigley Corporation, (Nasdaq: QGLY), www.quigleyco.com, today announced the resignation of Guy J. Quigley as Chairman, President and Chief Executive Officer of the Company. The resignation is effective immediately, following a proxy contest which culminated on May 20 at the Company's annual meeting which favored dissident shareholder Ted Karkus and his proposed slate of directors. The Company has accepted the resignation of Charles A. Phillips, COO of The Quigley Corporation and Wendy D. Quigley, Accounting Operations Manager. Mr. Phillips and Ms. Quigley have been with the Company since its inception in 1989.
Guy J. Quigley founded The Quigley Corporation at his dining room table, self funding the company for its first six years without a salary. Mr. Quigley took the Company public in 1991 and established the COLD-EEZE(R) brand in 1992.
Under his leadership, COLD-EEZE has become the number three selling cough cold lozenge and the number one pharmacist recommended zinc cold treatment.
In 2001, he established Quigley Pharma Inc., with a focus on the research and development of naturally-derived compounds. As part of his strategic plan to develop the pharma operation, he oversaw its self-funding with the revenue generated by COLD-EEZE. Under his leadership, $28 million has been self-funded in Quigley Pharma since inception, without any dilution to shareholders.
Since that time, Quigley Pharma has brought two drug development programs to the position where they can begin to offer stockholders value. Findings of significantly improved nerve conduction in patients with Diabetic Peripheral Neuropathy demonstrate that the QR-333 compound has potent
|SOURCE Quigley Corporation|
Copyright©2009 PR Newswire.
All rights reserved