BOULDER CITY, Nev. (June 12, 2007) — Gary Benninger, COO of Amerityre Corp., will serve as president of the company effective immediately and also assume the title of CEO on Sept. 1.
Mr. Benninger will succeed Richard Steinke as CEO. Mr. Steinke announced earlier this year that he intends to resign Oct. 1. Mr. Steinke, who also serves as chairman, founded Amerityre in 1995 as a firm dedicated to developing the use of polyurethane in tires and other products.
After Sept. 1, Mr. Steinke will serve as a full-time technology consultant to the company. The board will select a new chairman after the annual meeting in December.
Mr. Benninger has served as the firm's COO since October 2005.
“His established working relationships within the company and his business and professional contacts outside the company are precisely what the company needs to ensure a smooth transition,” said Kenneth Johnson, Amerityre's director in charge of the search.
Separately, Amerityre also announced it has completed validation trials in the United Kingdom of its 2,500-pound-per-minute polyurethane pour machine. The machine was commissioned for Chinese licensee Qingdao Qizhou Rubber Co. Ltd., which will use it for production of large off-the-road retread tires at its plant in Shandong Province, China.