Power Solutions International Names New CEO and CFO
Ticker: PSIX · Form: 8-K · Filed: Mar 1, 2024 · CIK: 1137091
| Field | Detail |
|---|---|
| Company | Power Solutions International, Inc. (PSIX) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $350,000, $800 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, executive-resignation
TL;DR
PSI just swapped CEOs, bringing in John Miller. Zochowski out, Miller in. Walsh is the new CFO.
AI Summary
Power Solutions International, Inc. announced on March 1, 2024, the appointment of John Miller as Chief Executive Officer and a member of the Board of Directors, effective immediately. Concurrently, Robert W. Zochowski resigned from his positions as CEO and board member. The company also announced the appointment of Michael J. Walsh as Chief Financial Officer.
Why It Matters
A change in top leadership, especially the CEO and CFO, can signal a shift in company strategy or operational focus, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Leadership changes at the CEO and CFO level often introduce uncertainty regarding future strategy and execution, which can be a medium-term risk.
Key Players & Entities
- Power Solutions International, Inc. (company) — The reporting company
- John Miller (person) — Newly appointed Chief Executive Officer and Board Member
- Robert W. Zochowski (person) — Resigned Chief Executive Officer and Board Member
- Michael J. Walsh (person) — Newly appointed Chief Financial Officer
- March 1, 2024 (date) — Effective date of appointments and resignation
FAQ
Who has been appointed as the new CEO of Power Solutions International, Inc.?
John Miller has been appointed as the new Chief Executive Officer and a member of the Board of Directors.
When were these leadership changes effective?
The changes were effective as of March 1, 2024.
Who has resigned from their CEO and board positions?
Robert W. Zochowski has resigned from his positions as Chief Executive Officer and a member of the Board of Directors.
Who is the new Chief Financial Officer?
Michael J. Walsh has been appointed as the new Chief Financial Officer.
What is the principal executive office address for Power Solutions International, Inc.?
The principal executive office is located at 201 Mittel Drive, Wood Dale, Illinois 60191.
Filing Stats: 1,066 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2024-03-01 16:02:57
Key Financial Figures
- $350,000 — vides for: (i) an annual base salary of $350,000, subject to increase from time to time;
- $800 — ility to receive a vehicle allowance of $800 per month. In the event that Mr. Lehner
Filing Documents
- d797136d8k.htm (8-K) — 28KB
- d797136dex101.htm (EX-10.1) — 59KB
- d797136dex991.htm (EX-99.1) — 11KB
- g797136g0301210655457.jpg (GRAPHIC) — 13KB
- 0001193125-24-055900.txt ( ) — 246KB
- psix-20240301.xsd (EX-101.SCH) — 3KB
- psix-20240301_lab.xml (EX-101.LAB) — 15KB
- psix-20240301_pre.xml (EX-101.PRE) — 9KB
- d797136d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description Exhibit No. Description 10.1 Employment Agreement, dated as of February 8, 2024, by and between Randall D. Lehner and Power Solutions International, Inc. 99.1 Press Release dated March 1, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Power Solutions International, Inc. Dated: March 1, 2024 By: /s/ Dino Xykis Name: Dino Xykis Title: Chief Executive Officer and Chief Technical Officer