Departure leaves Ameron without heir apparent in company pipeline.

Departure leaves Ameron without heir apparent in company pipeline

An unannounced management shake-up at Ameron Inc., a $445.9 million-in-sales pipe manufacturer, leaves in doubt who will succeed Lawrence Tollenaere, 67, the company's veteran chairman and chief executive.

The Monterey Park-based company confirmed last that week that Tollenaere's heir apparent, Thomas Keefe, 57, former president, chief operating officer and chief operating officer, has left the company. Keefe's departure follows on the heels of the departure of William Craven, former Ameron vice president of employee relations. Tollenaere, an Ameron executive for 41 years, has re-assumed the title of president, a company official confirmed last week.

Ameron trades on the Big Board under the symbol "AMN."

Tollenaere is a pillar of the Los Angeles boardroom scene. In addition to his chairmanship at Ameron, he is board member at the Pasadena-based Avery-Dennison manufacturing concern; the Pasadena-based engineering giant Parsons Corp.; Valencia-based Newhall Land & Farming development company; and Newport Beach-based Pacific Mutual Life Insurance Co.

Some company insiders said they are worried that there appears to be no orderly succession plan at Ameron. Tollenaere did not return phone calls last week.

Ameron's vice president and general counsel, Javier Solis, confirmed the departure of Keefe and Craven, but declined to comment further.

Ameron manufactures concrete, fiberglass and steel pipe, protective coatings and linings, and other products used in construction.

Ameron is perhaps unusual on the Los Angeles public company scene in that large blocks of company stock are held by foreign interests. Nearly 13 percent of the company's stock is owned by the Societe des Tuyaux Bonna in France; 8.93 percent is owned by Taro Iketani, a Tokyo-based steel magnate; and 7.29 percent is owned by F.H. Fentener van Vlissingen, a Netherland outfit.

Ameron reported net income of $11.4 million on revenues of $445.9 million in fiscal 1990 ended Nov. 30, compared with net income of $14.1 million on revenues of $426.5 million in the year before.