Quigley's slate receives mixed support from two proxy advisory firms

By Lisa Kerner

Charlotte, N.C., May 12 - RiskMetrics Group/ISS and Glass, Lewis & Co. have recommended that Quigley Corp. shareholders reject dissident investor Ted Karkus' solicitation seeking control of the board of directors at the annual meeting on May 20.

Karkus is seeking to replace Quigley's incumbent board with himself and six others.

Both proxy advisory firms noted that Karkus failed to provide a detailed plan to manage the company, a Quigley news release said.

While Glass Lewis supports the re-election of Quigley's board, RiskMetrics is supporting the election of a partial Quigley slate.

RiskMetrics recommends that stockholders withhold votes from three of seven incumbent nominees.

In its report, Glass Lewis said that Karkus has not justified the removal of the incumbent directors and the election of his nominees, according to Quigley.

Quigley said the RiskMetrics report stated that Karkus' plan is "very general and lacks specifics," making it difficult for shareholders to know what Karkus would do differently.

"We are pleased that the two leading independent proxy advisory firms have each recommended that stockholders vote the white proxy card and reject the dissidents' control-seeking solicitation," chief executive officer and chairman Guy Quigley said in a company news release.

Quigley, based in Doylestown, Pa., manufactures and distributes homeopathic and health products in the United States.

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