May 29, 2009 (FinancialWire) — IGI Laboratories, Inc. (AMEX: IG) (Current Market Cap: US$14.34 Mil.) has named Hem Pandya its new president and chief executive officer, effective June 29. Rajiv Mathur has resigned as CEO and president and as a member of the company’s board.

Joyce Erony, the company’s chairwoman, will act as interim president and interim CEO until that date. Philip S. Forte will assume the role of corporate controller.

Pandya was appointed to the board of Directors to fill the position vacated by Mathur’s resignation. He is currently employed as chief operating officer of NexMed. He was previously SVP of business development and strategic alliances for Andrx Pharmaceuticals.

Buena, New Jersey-based IGI Laboratories engages in the development, manufacturing, filling, and packaging of topical, semi solid, and liquid products for pharmaceutical and cosmeceutical companies.

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