PSI Ends Interim Leadership by Naming Richard Hu Permanent CEO
PSIX is trading near its 52-week low of $29.29 (3.3% above the low).
Summary
PSI appointed Richard Hu as permanent CEO, ending the interim leadership period that followed the prior CEO's May 2026 resignation. Hu's compensation includes a $658K salary, a $540.5K sign-on bonus, and a $1.13M phantom stock grant.
Key Events · Executive and Board Changes · PSIX
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New CEO Appointed
Effective August 17, 2026, Nan (Richard) Hu takes over as CEO, succeeding Interim CEO Xun Li. Hu previously led BorgWarner's Americas Turbo & Thermal Technology business.
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Compensation Package
Hu's employment agreement provides a $658,000 base salary, a target annual bonus of 70% of base, a $540,500 sign-on cash bonus, and a $1,129,326 sign-on phantom stock grant that vests over three years.
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Interim CEO Returns to CFO Role
Upon Hu's start date, Xun (Kenneth) Li steps down as Interim CEO and continues as CFO. The board approved interim CEO compensation of $10,000 per month, retroactive to May 12, 2026.
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Annual Meeting Results
All seven director nominees were elected, BDO USA was ratified as auditor, and the say-on-pay proposal was approved. Stockholders recommended holding annual advisory votes on executive compensation.
Analysis · PSIX · Technology
Ending a search triggered by the prior CEO's May 2026 resignation, Power Solutions International appointed Richard Hu as permanent CEO, effective August 17, 2026. Hu brings over 25 years of global industrial leadership, most recently at BorgWarner. His compensation package includes a $658,000 base salary, a target bonus of 70% of base, a $540,500 sign-on cash bonus, and a $1.13 million sign-on phantom stock grant. Interim CEO Xun Li will return to his CFO role. The filing also reports annual meeting results, with all director nominees elected and the auditor ratified. The appointment resolves a key leadership vacuum and signals the board's commitment to pursuing growth in the data center market, as highlighted in the press release.
At the time of this filing, PSIX was trading at $30.25 on NASDAQ in the Technology sector, with a market capitalization of approximately $692.9M. The 52-week trading range was $29.29 to $121.78. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.