IGI names new CEO, president

IGI Laboratories Inc. has named a new chief executive and president, effective at the end of June.

Hem Pandya will be the chief executive officer and president, effective June 29.

Rajiv Mathur has resigned, effective immediately, from those posts. He had been appointed in December 2006.

Joyce Erony, the IGI's board chair, will fill those positions until Pandya takes over.

Pandya, who received his bachelor's from Rutgers University, is chief operating officer of NexMed Inc., a pharmaceutical and medical technology company based in East Windsor, N.J., and has worked at other pharma firms.

Also, Philip S. Forte was named corporate controller.

The Buena, Atlantic County-based maker of products for pharmaceutical and cosmetics companies is operating under a May 31 deadline to regain compliance with American Stock Exchange listing standards, based on its stockholders' equity and continuing losses.