Power Solutions International, Inc. (NASDAQ:PSIX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Resignation of Jason Lin as Director
On June 11, 2019, Jason Lin resigned from the Board of Directors of Power Solutions International, Inc. (the “Company”) in order to assume the position of Chief Technical Officer (“CTO”) of the Company. Mr. Lin was a member of the Audit Committee. Mr. Lin’s resignation is not based upon any disagreement with the Company on any matter relating to the respective operations, policies, or practices of the Company.
The Board of Directors has initiated a search to identify qualified candidates to replace Mr. Lin as a director of the Company and member of the Audit Committee.
Mr. Lin was appointed as the Company’s CTO on June 14, 2019. As CTO, Lin will be responsible for the oversight and management of the Advanced Product Development group, Design Engineering group, Applied Engineering group, Emissions & Certification group, On-highway engineering group, and aspects of program management/research and development as well as product strategic planning.
Mr. Lin has over three decades of Engineering and Executive Management experience in the engine development and manufacturing industries. From 2009 to July 2016, Mr. Lin served as Chief Executive Officer and President of Société Internationale des Moteurs Baudouin, a France-based marine engine manufacturing subsidiary of Weichai Power Co., Ltd. During this tenure, he also served as an Executive Technical Director and adviser to the Chairman of Weichai Power Co., Ltd.
From February 2001 to July 2006, Mr. Lin was employed by International Truck and Engine Corporation, a truck, bus and diesel engine manufacturer subsidiary of Navistar International Corporation, in engineering management positions. Earlier in his career, Mr. Lin was employed in engineering positions by Cummins Engine Company and worked in Japan for Komatsu-Cummins Engine Company as Vice President.
Mr. Lin received his Bachelor of Science degree and Master of Science degree in Mechanical Engineering from National Cheng Kung University in Taiwan, and his Master of Science degree and PhD. in Mechanical Engineering from the University of Wisconsin – Madison.
Set forth below are biographies for Shaojun Sun, Ph.D., Kui Jiang and Huisheng Liu, members of the Company’s Board of Directors, which have been updated to reflect the addition of Dr. Sun’s and Mr. Jiang’s directorships held at Ballard Power Systems Inc., a publicly traded company on the NASDAQ and TSX that builds fuel cell products, and other general updates.
Shaojun Sun, Ph.D. has served as the Company’s Chairman of the Board since April 1, 2017, and was appointed as a member of the Compensation and Nominating and Governance Committees.
Dr. Sun is currently a Director of Weichai Group Holdings Limited, a multi-field and multi-industry international group which owns six business segments of powertrain, intelligent logistics, automotive, construction machinery, luxury yacht, and finance & after-services. Dr. Sun is an Executive Director and Executive President of Weichai Power Co., Ltd., a publicly traded company on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange and leading global designer and manufacturer of diesel engines, as well as Chairman of Shandong Weichai Import and Export Co., Ltd., a wholesale distributor of industrial machinery and equipment, and Chairman of Weichai (Weifang) New Energy Technology Co., Ltd., an equity investment of Weichai Power. On January 1, 2019, Dr. Sun was appointed a Director of Ballard Power Systems Inc., a publicly traded company on the NASDAQ and TSX that builds fuel cell products. Dr. Sun joined Weifang Diesel Engine Factory in 1988 and held various supervisory positions as a Chief Engineer of Weifang Diesel Engine Factory, and Director of Torch Automobile Group Co., Ltd.
