Power Solutions International, Inc. (PSIX) reported a leadership change following the resignation of Constantine “Dino” Xykis as chief executive officer. Xykis resigned from his employment with the company and from all other positions he held with Power Solutions International and its subsidiaries effective May 12, 2026. He had served as CEO since April 24, 2023. In connection with the departure, Power Solutions International entered into a Resignation Agreement and General Release with Xykis dated May 12, 2026. The agreement provides that certain payments and benefits are subject to his non-revocation of the agreement and continued compliance with its terms. Under the agreement, Xykis is entitled to receive his previously earned and Compensation Committee-approved fiscal 2025 incentive compensation: a 2025 Key Performance Indicator bonus of $945,611.91 and the remaining portion of his 2025 Long-Term Incentive bonus of $312,462.09, each less applicable withholdings. The resignation agreement also addresses equity-linked compensation. Xykis will receive full deemed exercise of the remaining vested 28,334 stock appreciation rights, or SARs, previously granted under an April 25, 2023 SARs Agreement. The SARs are to be settled in cash in accordance with that agreement and remain subject to a post-separation exercise window and the company’s Insider Trading Compliance Policy. The filing does not report an open-market securities transaction, share sale, purchase price, or transaction code; rather, it describes a cash settlement right tied to vested SARs. Xykis also may receive partial reimbursement of COBRA premiums for up to 12 months after his COBRA coverage first takes effect, provided he timely elects continuation coverage and follows the reimbursement procedures in the resignation agreement. The agreement includes a general release of claims and customary covenants in favor of Power Solutions International and its affiliates. The company also stated that entering into the agreement and paying the consideration do not constitute an admission of wrongdoing or liability. Effective May 12, 2026, the board appointed Xun “Kenneth” Li, the company’s chief financial officer, to serve as interim chief executive officer and principal executive officer while continuing as CFO and principal financial officer. Li, 56, has been Power Solutions International’s CFO since August 26, 2022. His prior roles include chief financial officer of ND Paper from 2020 to August 2022, finance leadership positions at Caterpillar Inc. from 2008 to 2020, including CFO of its machine product group, and finance leadership roles at Ford Motor Company from 2003 to 2008. Li will serve as interim CEO until the board appoints a permanent CEO or otherwise determines a different timing. The company said its Nominating and Corporate Governance Committee is continuing its search for a permanent chief executive officer under the board’s succession planning process. Li will continue receiving his existing CFO compensation and will not receive additional cash compensation for serving as interim CEO, although the Compensation Committee may review and adjust his compensation later in recognition of the expanded responsibilities. The filing was made under Item 5.02, covering departures and appointments of directors and certain officers and compensatory arrangements, and Item 9.01, listing the resignation agreement as Exhibit 10.1.