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Posted 02 June, 2022

POWER SOLUTIONS INTERNATIONAL, INC. appointed new CEO

CEO Change detected for ticker OTC:PSIX in a 8-K filed on 02 June, 2022.


  On June 2, 2022, Power Solutions International, Inc. (the "Company" or "PSI") announced that its current Chief Technical Officer, C. (Dino) Xykis, was appointed by the Company's Board of Directors to the additional role of Interim Chief Executive Officer, effective June 1, 2022.  

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Overview of POWER SOLUTIONS INTERNATIONAL, INC.
Automotive • Motor Vehicle Parts
Power Solutions International, Inc. engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets. The company was founded by Gary S. Winemaster, Kenneth J. Winemaster, and William Winemaster in February 1985 and is headquartered in Wood Dale, IL.
Market Cap
$715M
View Company Details
POWER SOLUTIONS INTERNATIONAL, INC. by TradingView
Relevant filing section
Item 5.02. 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On June 2, 2022, Power Solutions International, Inc. (the "Company" or "PSI") announced that its current Chief Technical Officer, C. (Dino) Xykis, was appointed by the Company's Board of Directors to the additional role of Interim Chief Executive Officer, effective June 1, 2022. Mr. Xykis succeeds Lance Arnett, who resigned from the Company to pursue other interests on May 26, 2022 and which became effective May 31, 2022. 

Mr. Xykis, age 63, who has more than 30 years of professional experience in multi-disciplined engineering areas including senior management and executive positions, was appointed as the Company's Chief Technical Officer on March 15, 2021. Since that time, Mr. Xykis has been responsible for the oversight of the Company's advanced product development, engineering design and analysis, on-highway engineering, applied engineering, emissions and certification, Waterford, Michigan engineering operations, program management and product strategic planning. Since joining the Company in 2010 and until his appointment as Chief Technical Officer in March 2021, Mr. Xykis served as Vice President of Engineering for the Company. Prior to joining PSI, his previous professional experience in multi-disciplined engineering areas including senior management and executive positions includes service at various companies including Cummins Inc., and Generac Power Systems, both of which are publicly traded. Mr. Xykis also served as Adjunct Professor of Mechanical Engineering and Mechanics at the Milwaukee School of Engineering and previously served on the audit and compensation committees of the Board of Directors of Image Sensing Systems, a publicly traded company on NASDAQ, from 1996 to 2001. Mr. Xykis also served on the advisory board of CEGE, College of Science and Engineering, University of Minnesota for eight years. 

Mr. Xykis holds a Bachelor's degree in Structural Engineering, a Master's degree in Vibration/Dynamics, and a PhD. in Structural/Applied Mechanics from the University of Minnesota, Minneapolis. 

The details of Mr. Xykis' compensation in connection with his appointment and the details of Mr. Arnett's separation agreement will be disclosed at a later date. 

A press release announcing the matters described above is attached hereto as Exhibit 99.1 and incorporated herein by reference.