Power Solutions International Announces the Appointment of Donald P. Klein as its Interim Chief Financial Officer

WOOD DALE, Ill., July 24, 2020 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (“PSI” or “the Company”) (OTC Pink:  PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that effective July 20, 2020, it has appointed current corporate controller and principal accounting officer Donald P. Klein as its interim chief financial officer to succeed Charles F. (Chip) Avery, Jr., who will be departing the Company to pursue other interests following a transition period.

Mr. Klein, who possesses over 20 years of experience in the areas of finance and accounting, including SEC reporting, accounting policies and procedures, and internal controls, has served as PSI’s corporate controller and principal accounting officer since May 14, 2018 with the responsibilities of leading the accounting, tax, internal control, and reporting functions.  Prior to joining the Company, he served as assistant corporate controller at Littelfuse, Inc., a publicly traded company that sells electronic products to customers in the electronics, automotive and industrial markets. Prior to that role, from 2008 to 2017, Mr. Klein served in various positions of increasing responsibility within finance and accounting, including most recently as assistant corporate controller at Navistar International Corporation, a publicly traded company. Prior to Navistar, he worked for Hewitt Associates as manager of external reporting and at Ernst & Young LLP as a senior manager of assurance and advisory services.

John Miller, chief executive officer and president, commented, “I would like to thank Chip for his significant contributions to the Company.  During his tenure with PSI, he led the financial statement restatement, strengthened the accounting, finance and internal audit functions, and directed the design and in-process implementation of a comprehensive system of compliance controls.  We are pleased that Chip is staying with the Company for a period of time in a consulting role to ensure a smooth transition and we wish him well in his future endeavors.”

About Power Solutions International, Inc.

Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of a broad range of advanced, emission-certified engines and power systems.  PSI provides integrated turnkey solutions to leading global original equipment manufacturers and end-user customers within the energy, industrial and transportation end markets.  The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines using a fuel agnostic strategy to run on a wide variety of fuels, including natural gas, propane, gasoline, diesel and biofuels.