Founder and current chairman and CEO Richard Steinke plans to resign both posts as of Oct. 1, and current company president Kenneth Johnsen resigned to head the company’s search for new leadership. Until new lead executives are in place, Steinke will also serve as Amerityre’s president.

In addition, Elliott Taylor has resigned as Amerityre’s chief administrative officer, executive vice president, secretary and general counsel. Taylor will return to his private law practice and his duties will be absorbed by others within the company.

"I have discussed transition plans with the board for some time," said Steinke. "However, I feel it is extremely important that I oversee completion of several key ongoing projects at the company, while allowing adequate time to make an orderly transition. I believe that the board and I have designed a transition plan that meets my objectives while also ensuring that Amerityre continues its exciting progress toward achieving its significant potential."

Johnsen, a former member of Amerityre’s board, has been president since August. He was reappointed to the board on Jan. 15, resigned as president and was asked to head its search for a new CEO and head the transition process. He will remain with Amerityre in a consulting basis.

Meanwhile, Amerityre said that its Arcus run-flat tire has “successfully completed significant portions of the FMVSS139 tire testing standard. The company said the tire – a polyurethane elastomer-based tire produced by injection molding – completed FMVSS139 requirements covering bead unseating, tire strength and high speed testing.

Amerityre said it is “now working on the remaining endurance component of the testing protocol” and “believes that it is on track to complete that testing successfully.”

No timetable for the testing was announced.