Larry G. Kingen has announced plans to quit as president, chief executive and a director of AME Inc., a Burbank post-production company that has been the subject of takeover speculation for several months.
Kingen, whose resignation is effective March 31, has been president since December, 1986, and most recently has been in charge of AME’s New York facilities. AME’s chairman is Andrew M. McIntyre, who founded the company in 1980.
Kingen’s office said he would not comment on his decision. In a statement, McIntyre did not allude to Kingen’s reasons for leaving nor to the takeover speculation, but announced “with our deepest regret” that Kingen was departing.
McIntyre, who owns 45% of AME, offered earlier this year to buy the remaining stock for $37 million but later withdrew the bid. An unidentified third party likewise ended talks with AME about a possible offer, but AME’s employee stock ownership plan has also said it is considering making a buyout proposal.