Power Solutions International, Inc. announced that on May 12, 2026, Constantine (?Dino?) Xykis resigned from his employment with the Company as Chief Executive Officer of the Company, and all other positions he held with the Company and its subsidiaries, effective May 12, 2026 (the ?Resignation Date?). In connection with his resignation, Mr. Xykis and the Company entered into a Resignation Agreement and General Release (the ?Resignation Agreement?). Mr. Xykis had served as Chief Executive Officer since April 24, 2023.
Effective as of the Resignation Date, the Board of Directors of the Company (the ?Board?) appointed Xun (?Kenneth?) Li, the Company?s Chief Financial Officer, to serve as Interim Chief Executive Officer of the Company (principal executive officer), in addition to his continuing role as Chief Financial Officer (principal financial officer). Mr. Li will serve as Interim Chief Executive Officer until the earlier of the appointment of a permanent Chief Executive Officer by the Board and such other time as the Board may determine. Pursuant to the Board?s existing succession planning process, as previously disclosed in the Company?s definitive proxy statement filed with the Securities and Exchange Commission on June 13, 2025, the Nominating and Corporate Governance Committee of the Board is continuing its search for a permanent Chief Executive Officer.
Mr. Li, 56, has served as the Company?s Chief Financial Officer since August 26, 2022. From 2020 to August 2022, Mr. Li served as Chief Financial Officer of ND Paper, a pulp, packaging and paper company, where he was a member of the executive leadership team with responsibility for finance and accounting functions and strategic planning. From 2008 to 2020, Mr. Li held financial leadership positions at Caterpillar Inc., a publicly traded company, including serving as Chief Financial Officer of its machine product group from 2013 to 2020.
From 2003 to 2008, Mr. Li held finance leadership roles at Ford Motor Company, a publicly traded company. Mr. Li holds a Master of Business Administration with high distinction and a Master of Science in Accounting from the University of Michigan, a Master of Science in Mechanical Engineering from the University of Oklahoma, and a Bachelor of Science in Mechanical Engineering from Shanghai Jiao Tong University. He is a Certified Public Accountant in the State of Illinois.
