Business Context and Reporting Period
This Form 8-K Current Report was filed by Power Solutions International, Inc. on November 21, 2011. The filing addresses corporate governance changes, specifically the departure of a director and the election of a new independent director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Resignation: Mr. Kenneth J. Winemaster resigned from the Board of Directors effective immediately on November 21, 2011. He continues to serve as the Company's Senior Vice President and Secretary.
- Election: Ms. Mary E. Vogt was elected to the Board of Directors effective immediately to fill the vacancy created by Mr. Winemaster's resignation. Her term expires at the next annual meeting of stockholders.
- Reason for Departure: The filing explicitly states that Mr. Winemaster's resignation was not the result of any disagreement with the Company regarding operations, policies, or practices.
Outlook, Risks, and Management Commentary
Ms. Vogt brings significant experience in the medical device and manufacturing sectors, having served as President of Home Access Health Corporation since 2008 and previously as CFO. She also holds prior executive roles at Leo Burnett Company and Harley-Davidson Financial Services. As of the filing date, the Board has no standing committees, and Ms. Vogt has not been assigned to any specific committee.
Investor Verification Checklist
- Confirm the continued role of Mr. Kenneth J. Winemaster as Senior Vice President and Secretary.
- Verify the background and qualifications of the newly elected director, Ms. Mary E. Vogt.
- Monitor future filings for the establishment of Board committees and Ms. Vogt's potential committee assignments.
- Review subsequent financial reports (10-Q or 10-K) for operational and financial metrics not included in this 8-K.