DOYLESTOWN, Pa. The Quigley Corp. on Thursday announced that Quigley chairman Ted Karkus has been appointed interim CEO by the board.
Karkus will serve in this role effective June 18, and will be compensated at a rate of $5,000 per week for his services.
The news came one week after Guy Quigley announced his resignation as chairman, president and CEO of the company. The resignation followed a proxy contest, which culminated on May 20 at the company’s annual meeting, that favored shareholder Ted Karkus and his proposed slate of directors. Quigley Corp. also accepted the resignation of Charles Phillips, COO, and Wendy Quigley, accounting operations manager.
“Despite everything that has been said and done during the course of this proxy contest, my goal has been, and continues [to be], to build stockholder value,” Quigley stated. “I am very proud of our work over the past 20 years. Cold-Eeze is a highly respected product and well-established household name, and Quigley Pharma has several compounds that have reached a point of value inflection,” he said.