Greencastle, IN, United States

DePauw University

depauw.edu
Greencastle, IN, United States

DePauw University in Greencastle, Indiana, US, is a private, national liberal arts college and School of Music with an enrollment of approximately 2,400 students. The school has a Methodist heritage and was originally known as Indiana Asbury University. DePauw is a member of both the Great Lakes Colleges Association and the North Coast Athletic Conference. The Society of Professional Journalists was founded at DePauw. DePauw is home to both the first modern-day sorority and the two longest continuously-running fraternities in the world. Wikipedia.

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WOOD DALE, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (OTC Pink:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that on May 17, 2017, the Company completed its previously announced search for a new, permanent chief executive officer.  In connection therewith, the Company’s Board of Directors (the “Board”) appointed John P. Miller as chief executive officer and president of the Company. Mr. Miller’s appointment was effective immediately upon the resignation of Raymond C. Anderson as interim chief executive officer.  The Company expects to enter into an employment agreement with Mr. Miller, a description of which will be provided in an amended Form 8-K that is anticipated to be filed with the U.S. Securities and Exchange Commission. Shaojun Sun, Chairman of the Board of Directors, commented, “After conducting a comprehensive search for a permanent CEO, we are pleased to welcome John as our chief executive officer and president. His successful track record in the areas of operations and finance across the manufacturing, distribution and transportation industries, coupled with his public company experience, make him an ideal fit to lead our company into the future.  We look forward to working together with him to steer the company on a positive track as we strive to create long-term stability, growth and shareholder value.” John Miller, chief executive officer and president, commented, “"I am honored to join the team at PSI. With our technology, depth of products and strong roster of customers, the Company is well positioned for future growth.  I look forward to working with our talented employees and our partners at Weichai as we pursue additional growth opportunities and drive overall profitability. As we move forward, we are committed to serving our customers and to delivering value to our shareholders." Mr. Miller, age 59, has over 35 years of broad-based executive management experience in the manufacturing, distribution, and transportation industries in both public and private equity companies. From 2008 until 2016, he served in operational and financial management positions of increasing responsibility at Navistar International Corporation (“Navistar”), a global manufacturer of commercial and military trucks, school buses, diesel engines, and provider of service parts for trucks and diesel engines, and most recently, from 2014 as senior vice president operations and corporate finance. Mr. Miller’s prior positions at Navistar included vice president and general manager for specialty business as well as vice president and chief financial officer for engine and parts. Prior thereto, he served in the role of chief financial officer of Laidlaw International, Inc., a provider of public transportation services, Chicago Metallic Corporation, a global manufacturer of suspended ceiling and metal products, Fleetpride, Inc., a distributor of heavy duty truck parts, and Peapod, an online grocery delivery company.  Mr. Miller received his Masters degree in Business Administration from the University of Michigan and a Bachelor of Arts degree in economics from DePauw University. Mr. Anderson resigned on May 17, 2017, and the Company and Huron Consulting Services LLC (“Huron”) terminated by mutual agreement the interim services agreement pursuant to which Mr. Anderson was retained to serve in an interim executive role. Separately, on May 17, 2017, the Company entered into a services agreement pursuant to which it engaged Huron as a financial advisor to the Company. Pursuant to the services agreement, Huron will provide prescribed financial advisory services and the Company will pay Huron hourly-based fees at prescribed rates. Also, on May 17, 2017, Jay J. Hansen, Ellen R. Hoffing and Mary E. Vogt notified the Board of their resignation as directors, including as members of the audit committee of the Board, effective as of May 31, 2017 or earlier if the Company elects a replacement director. They expressed that their resignations were not the result of any disagreement on any matters relating to the Company’s operations, policies or practices but were due to other personal and professional obligations and commitments. The Company thanked them for their service. The Board anticipates conducting an active search for qualified, independent director candidates to begin filling the vacancies on the Board as a result of the foregoing resignations, with a view toward recruiting candidates with the requisite knowledge and experience to serve as audit committee members. About Power Solutions International, Inc.  Power Solutions International, Inc. (PSI or the Company) is a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines that run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel. PSI develops and delivers powertrains purpose built for the Class 3 through Class 7 medium duty trucks and buses for the North American and Asian markets, which includes work trucks, school and transit buses, terminal tractors, and various other vocational vehicles.  In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment. For more information on PSI, visit www.psiengines.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities.  These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward looking statements by using words such as "expect," "contemplate," "anticipate," "estimate," "plan," "will," "would," "should," "forecast," "believe," "outlook, " "guidance," "projection," "target" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including, without limitation: the final results of the Audit Committee’s internal review as it impacts the Company’s accounting, accounting policies and internal control over financial reporting; management’s ability to successfully implement the Audit Committee’s remedial recommendations; the reasons giving rise to the resignation of the Company’s prior independent registered public accounting firm; the time and effort required to complete the restatement of the affected financial statements and amend the related Form 10-K and Form 10-Q filings; the subsequent discovery of additional adjustments to the Company’s previously issued financial statements; the timing of completion of necessary re-audits, interim reviews and audits by the new independent registered public accounting firm; the timing of completion of steps to address and the inability to address and remedy, material weaknesses; the identification of additional material weaknesses or significant deficiencies; variances in non-recurring expenses; risks relating to the substantial costs and diversion of personnel’s attention and resources deployed to address the financial reporting and internal control matters and related class action litigation; the impact of the resignation of the Company’s former independent registered public accounting firm on the Company relationship with its lender and trade creditors and the potential for defaults and exercise of creditor remedies; the impact of the previously disclosed investigation initiated by the SEC and any related or additional governmental investigative or enforcement proceedings; the impact of recent resignations of the Company’s directors and certain executive officers and any delays and challenges encountered in recruiting recruit replacements and the replacements’ transition into their positions; and any negative impacts from delisting of the Company’s common stock from Nasdaq and any delays and challenges in obtaining a re-listing on a stock exchange. Actual events or results may differ materially from the Company’s expectations. The Company’s forward-looking statements are presented as of the date hereof. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.


WOOD DALE, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (OTC Pink:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that on May 17, 2017, the Company completed its previously announced search for a new, permanent chief executive officer.  In connection therewith, the Company’s Board of Directors (the “Board”) appointed John P. Miller as chief executive officer and president of the Company. Mr. Miller’s appointment was effective immediately upon the resignation of Raymond C. Anderson as interim chief executive officer.  The Company expects to enter into an employment agreement with Mr. Miller, a description of which will be provided in an amended Form 8-K that is anticipated to be filed with the U.S. Securities and Exchange Commission. Shaojun Sun, Chairman of the Board of Directors, commented, “After conducting a comprehensive search for a permanent CEO, we are pleased to welcome John as our chief executive officer and president. His successful track record in the areas of operations and finance across the manufacturing, distribution and transportation industries, coupled with his public company experience, make him an ideal fit to lead our company into the future.  We look forward to working together with him to steer the company on a positive track as we strive to create long-term stability, growth and shareholder value.” John Miller, chief executive officer and president, commented, “"I am honored to join the team at PSI. With our technology, depth of products and strong roster of customers, the Company is well positioned for future growth.  I look forward to working with our talented employees and our partners at Weichai as we pursue additional growth opportunities and drive overall profitability. As we move forward, we are committed to serving our customers and to delivering value to our shareholders." Mr. Miller, age 59, has over 35 years of broad-based executive management experience in the manufacturing, distribution, and transportation industries in both public and private equity companies. From 2008 until 2016, he served in operational and financial management positions of increasing responsibility at Navistar International Corporation (“Navistar”), a global manufacturer of commercial and military trucks, school buses, diesel engines, and provider of service parts for trucks and diesel engines, and most recently, from 2014 as senior vice president operations and corporate finance. Mr. Miller’s prior positions at Navistar included vice president and general manager for specialty business as well as vice president and chief financial officer for engine and parts. Prior thereto, he served in the role of chief financial officer of Laidlaw International, Inc., a provider of public transportation services, Chicago Metallic Corporation, a global manufacturer of suspended ceiling and metal products, Fleetpride, Inc., a distributor of heavy duty truck parts, and Peapod, an online grocery delivery company.  Mr. Miller received his Masters degree in Business Administration from the University of Michigan and a Bachelor of Arts degree in economics from DePauw University. Mr. Anderson resigned on May 17, 2017, and the Company and Huron Consulting Services LLC (“Huron”) terminated by mutual agreement the interim services agreement pursuant to which Mr. Anderson was retained to serve in an interim executive role. Separately, on May 17, 2017, the Company entered into a services agreement pursuant to which it engaged Huron as a financial advisor to the Company. Pursuant to the services agreement, Huron will provide prescribed financial advisory services and the Company will pay Huron hourly-based fees at prescribed rates. Also, on May 17, 2017, Jay J. Hansen, Ellen R. Hoffing and Mary E. Vogt notified the Board of their resignation as directors, including as members of the audit committee of the Board, effective as of May 31, 2017 or earlier if the Company elects a replacement director. They expressed that their resignations were not the result of any disagreement on any matters relating to the Company’s operations, policies or practices but were due to other personal and professional obligations and commitments. The Company thanked them for their service. The Board anticipates conducting an active search for qualified, independent director candidates to begin filling the vacancies on the Board as a result of the foregoing resignations, with a view toward recruiting candidates with the requisite knowledge and experience to serve as audit committee members. About Power Solutions International, Inc.  Power Solutions International, Inc. (PSI or the Company) is a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines that run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel. PSI develops and delivers powertrains purpose built for the Class 3 through Class 7 medium duty trucks and buses for the North American and Asian markets, which includes work trucks, school and transit buses, terminal tractors, and various other vocational vehicles.  In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment. For more information on PSI, visit www.psiengines.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities.  These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward looking statements by using words such as "expect," "contemplate," "anticipate," "estimate," "plan," "will," "would," "should," "forecast," "believe," "outlook, " "guidance," "projection," "target" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including, without limitation: the final results of the Audit Committee’s internal review as it impacts the Company’s accounting, accounting policies and internal control over financial reporting; management’s ability to successfully implement the Audit Committee’s remedial recommendations; the reasons giving rise to the resignation of the Company’s prior independent registered public accounting firm; the time and effort required to complete the restatement of the affected financial statements and amend the related Form 10-K and Form 10-Q filings; the subsequent discovery of additional adjustments to the Company’s previously issued financial statements; the timing of completion of necessary re-audits, interim reviews and audits by the new independent registered public accounting firm; the timing of completion of steps to address and the inability to address and remedy, material weaknesses; the identification of additional material weaknesses or significant deficiencies; variances in non-recurring expenses; risks relating to the substantial costs and diversion of personnel’s attention and resources deployed to address the financial reporting and internal control matters and related class action litigation; the impact of the resignation of the Company’s former independent registered public accounting firm on the Company relationship with its lender and trade creditors and the potential for defaults and exercise of creditor remedies; the impact of the previously disclosed investigation initiated by the SEC and any related or additional governmental investigative or enforcement proceedings; the impact of recent resignations of the Company’s directors and certain executive officers and any delays and challenges encountered in recruiting recruit replacements and the replacements’ transition into their positions; and any negative impacts from delisting of the Company’s common stock from Nasdaq and any delays and challenges in obtaining a re-listing on a stock exchange. Actual events or results may differ materially from the Company’s expectations. The Company’s forward-looking statements are presented as of the date hereof. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.


WOOD DALE, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (OTC Pink:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that on May 17, 2017, the Company completed its previously announced search for a new, permanent chief executive officer.  In connection therewith, the Company’s Board of Directors (the “Board”) appointed John P. Miller as chief executive officer and president of the Company. Mr. Miller’s appointment was effective immediately upon the resignation of Raymond C. Anderson as interim chief executive officer.  The Company expects to enter into an employment agreement with Mr. Miller, a description of which will be provided in an amended Form 8-K that is anticipated to be filed with the U.S. Securities and Exchange Commission. Shaojun Sun, Chairman of the Board of Directors, commented, “After conducting a comprehensive search for a permanent CEO, we are pleased to welcome John as our chief executive officer and president. His successful track record in the areas of operations and finance across the manufacturing, distribution and transportation industries, coupled with his public company experience, make him an ideal fit to lead our company into the future.  We look forward to working together with him to steer the company on a positive track as we strive to create long-term stability, growth and shareholder value.” John Miller, chief executive officer and president, commented, “"I am honored to join the team at PSI. With our technology, depth of products and strong roster of customers, the Company is well positioned for future growth.  I look forward to working with our talented employees and our partners at Weichai as we pursue additional growth opportunities and drive overall profitability. As we move forward, we are committed to serving our customers and to delivering value to our shareholders." Mr. Miller, age 59, has over 35 years of broad-based executive management experience in the manufacturing, distribution, and transportation industries in both public and private equity companies. From 2008 until 2016, he served in operational and financial management positions of increasing responsibility at Navistar International Corporation (“Navistar”), a global manufacturer of commercial and military trucks, school buses, diesel engines, and provider of service parts for trucks and diesel engines, and most recently, from 2014 as senior vice president operations and corporate finance. Mr. Miller’s prior positions at Navistar included vice president and general manager for specialty business as well as vice president and chief financial officer for engine and parts. Prior thereto, he served in the role of chief financial officer of Laidlaw International, Inc., a provider of public transportation services, Chicago Metallic Corporation, a global manufacturer of suspended ceiling and metal products, Fleetpride, Inc., a distributor of heavy duty truck parts, and Peapod, an online grocery delivery company.  Mr. Miller received his Masters degree in Business Administration from the University of Michigan and a Bachelor of Arts degree in economics from DePauw University. Mr. Anderson resigned on May 17, 2017, and the Company and Huron Consulting Services LLC (“Huron”) terminated by mutual agreement the interim services agreement pursuant to which Mr. Anderson was retained to serve in an interim executive role. Separately, on May 17, 2017, the Company entered into a services agreement pursuant to which it engaged Huron as a financial advisor to the Company. Pursuant to the services agreement, Huron will provide prescribed financial advisory services and the Company will pay Huron hourly-based fees at prescribed rates. Also, on May 17, 2017, Jay J. Hansen, Ellen R. Hoffing and Mary E. Vogt notified the Board of their resignation as directors, including as members of the audit committee of the Board, effective as of May 31, 2017 or earlier if the Company elects a replacement director. They expressed that their resignations were not the result of any disagreement on any matters relating to the Company’s operations, policies or practices but were due to other personal and professional obligations and commitments. The Company thanked them for their service. The Board anticipates conducting an active search for qualified, independent director candidates to begin filling the vacancies on the Board as a result of the foregoing resignations, with a view toward recruiting candidates with the requisite knowledge and experience to serve as audit committee members. About Power Solutions International, Inc.  Power Solutions International, Inc. (PSI or the Company) is a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines that run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel. PSI develops and delivers powertrains purpose built for the Class 3 through Class 7 medium duty trucks and buses for the North American and Asian markets, which includes work trucks, school and transit buses, terminal tractors, and various other vocational vehicles.  In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment. For more information on PSI, visit www.psiengines.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities.  These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward looking statements by using words such as "expect," "contemplate," "anticipate," "estimate," "plan," "will," "would," "should," "forecast," "believe," "outlook, " "guidance," "projection," "target" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including, without limitation: the final results of the Audit Committee’s internal review as it impacts the Company’s accounting, accounting policies and internal control over financial reporting; management’s ability to successfully implement the Audit Committee’s remedial recommendations; the reasons giving rise to the resignation of the Company’s prior independent registered public accounting firm; the time and effort required to complete the restatement of the affected financial statements and amend the related Form 10-K and Form 10-Q filings; the subsequent discovery of additional adjustments to the Company’s previously issued financial statements; the timing of completion of necessary re-audits, interim reviews and audits by the new independent registered public accounting firm; the timing of completion of steps to address and the inability to address and remedy, material weaknesses; the identification of additional material weaknesses or significant deficiencies; variances in non-recurring expenses; risks relating to the substantial costs and diversion of personnel’s attention and resources deployed to address the financial reporting and internal control matters and related class action litigation; the impact of the resignation of the Company’s former independent registered public accounting firm on the Company relationship with its lender and trade creditors and the potential for defaults and exercise of creditor remedies; the impact of the previously disclosed investigation initiated by the SEC and any related or additional governmental investigative or enforcement proceedings; the impact of recent resignations of the Company’s directors and certain executive officers and any delays and challenges encountered in recruiting recruit replacements and the replacements’ transition into their positions; and any negative impacts from delisting of the Company’s common stock from Nasdaq and any delays and challenges in obtaining a re-listing on a stock exchange. Actual events or results may differ materially from the Company’s expectations. The Company’s forward-looking statements are presented as of the date hereof. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.


WOOD DALE, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (OTC Pink:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that on May 17, 2017, the Company completed its previously announced search for a new, permanent chief executive officer.  In connection therewith, the Company’s Board of Directors (the “Board”) appointed John P. Miller as chief executive officer and president of the Company. Mr. Miller’s appointment was effective immediately upon the resignation of Raymond C. Anderson as interim chief executive officer.  The Company expects to enter into an employment agreement with Mr. Miller, a description of which will be provided in an amended Form 8-K that is anticipated to be filed with the U.S. Securities and Exchange Commission. Shaojun Sun, Chairman of the Board of Directors, commented, “After conducting a comprehensive search for a permanent CEO, we are pleased to welcome John as our chief executive officer and president. His successful track record in the areas of operations and finance across the manufacturing, distribution and transportation industries, coupled with his public company experience, make him an ideal fit to lead our company into the future.  We look forward to working together with him to steer the company on a positive track as we strive to create long-term stability, growth and shareholder value.” John Miller, chief executive officer and president, commented, “"I am honored to join the team at PSI. With our technology, depth of products and strong roster of customers, the Company is well positioned for future growth.  I look forward to working with our talented employees and our partners at Weichai as we pursue additional growth opportunities and drive overall profitability. As we move forward, we are committed to serving our customers and to delivering value to our shareholders." Mr. Miller, age 59, has over 35 years of broad-based executive management experience in the manufacturing, distribution, and transportation industries in both public and private equity companies. From 2008 until 2016, he served in operational and financial management positions of increasing responsibility at Navistar International Corporation (“Navistar”), a global manufacturer of commercial and military trucks, school buses, diesel engines, and provider of service parts for trucks and diesel engines, and most recently, from 2014 as senior vice president operations and corporate finance. Mr. Miller’s prior positions at Navistar included vice president and general manager for specialty business as well as vice president and chief financial officer for engine and parts. Prior thereto, he served in the role of chief financial officer of Laidlaw International, Inc., a provider of public transportation services, Chicago Metallic Corporation, a global manufacturer of suspended ceiling and metal products, Fleetpride, Inc., a distributor of heavy duty truck parts, and Peapod, an online grocery delivery company.  Mr. Miller received his Masters degree in Business Administration from the University of Michigan and a Bachelor of Arts degree in economics from DePauw University. Mr. Anderson resigned on May 17, 2017, and the Company and Huron Consulting Services LLC (“Huron”) terminated by mutual agreement the interim services agreement pursuant to which Mr. Anderson was retained to serve in an interim executive role. Separately, on May 17, 2017, the Company entered into a services agreement pursuant to which it engaged Huron as a financial advisor to the Company. Pursuant to the services agreement, Huron will provide prescribed financial advisory services and the Company will pay Huron hourly-based fees at prescribed rates. Also, on May 17, 2017, Jay J. Hansen, Ellen R. Hoffing and Mary E. Vogt notified the Board of their resignation as directors, including as members of the audit committee of the Board, effective as of May 31, 2017 or earlier if the Company elects a replacement director. They expressed that their resignations were not the result of any disagreement on any matters relating to the Company’s operations, policies or practices but were due to other personal and professional obligations and commitments. The Company thanked them for their service. The Board anticipates conducting an active search for qualified, independent director candidates to begin filling the vacancies on the Board as a result of the foregoing resignations, with a view toward recruiting candidates with the requisite knowledge and experience to serve as audit committee members. About Power Solutions International, Inc.  Power Solutions International, Inc. (PSI or the Company) is a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines that run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel. PSI develops and delivers powertrains purpose built for the Class 3 through Class 7 medium duty trucks and buses for the North American and Asian markets, which includes work trucks, school and transit buses, terminal tractors, and various other vocational vehicles.  In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment. For more information on PSI, visit www.psiengines.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities.  These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward looking statements by using words such as "expect," "contemplate," "anticipate," "estimate," "plan," "will," "would," "should," "forecast," "believe," "outlook, " "guidance," "projection," "target" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including, without limitation: the final results of the Audit Committee’s internal review as it impacts the Company’s accounting, accounting policies and internal control over financial reporting; management’s ability to successfully implement the Audit Committee’s remedial recommendations; the reasons giving rise to the resignation of the Company’s prior independent registered public accounting firm; the time and effort required to complete the restatement of the affected financial statements and amend the related Form 10-K and Form 10-Q filings; the subsequent discovery of additional adjustments to the Company’s previously issued financial statements; the timing of completion of necessary re-audits, interim reviews and audits by the new independent registered public accounting firm; the timing of completion of steps to address and the inability to address and remedy, material weaknesses; the identification of additional material weaknesses or significant deficiencies; variances in non-recurring expenses; risks relating to the substantial costs and diversion of personnel’s attention and resources deployed to address the financial reporting and internal control matters and related class action litigation; the impact of the resignation of the Company’s former independent registered public accounting firm on the Company relationship with its lender and trade creditors and the potential for defaults and exercise of creditor remedies; the impact of the previously disclosed investigation initiated by the SEC and any related or additional governmental investigative or enforcement proceedings; the impact of recent resignations of the Company’s directors and certain executive officers and any delays and challenges encountered in recruiting recruit replacements and the replacements’ transition into their positions; and any negative impacts from delisting of the Company’s common stock from Nasdaq and any delays and challenges in obtaining a re-listing on a stock exchange. Actual events or results may differ materially from the Company’s expectations. The Company’s forward-looking statements are presented as of the date hereof. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.


WOOD DALE, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. ("the Company") (OTC Pink:PSIX), a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems, announced that on May 17, 2017, the Company completed its previously announced search for a new, permanent chief executive officer.  In connection therewith, the Company’s Board of Directors (the “Board”) appointed John P. Miller as chief executive officer and president of the Company. Mr. Miller’s appointment was effective immediately upon the resignation of Raymond C. Anderson as interim chief executive officer.  The Company expects to enter into an employment agreement with Mr. Miller, a description of which will be provided in an amended Form 8-K that is anticipated to be filed with the U.S. Securities and Exchange Commission. Shaojun Sun, Chairman of the Board of Directors, commented, “After conducting a comprehensive search for a permanent CEO, we are pleased to welcome John as our chief executive officer and president. His successful track record in the areas of operations and finance across the manufacturing, distribution and transportation industries, coupled with his public company experience, make him an ideal fit to lead our company into the future.  We look forward to working together with him to steer the company on a positive track as we strive to create long-term stability, growth and shareholder value.” John Miller, chief executive officer and president, commented, “"I am honored to join the team at PSI. With our technology, depth of products and strong roster of customers, the Company is well positioned for future growth.  I look forward to working with our talented employees and our partners at Weichai as we pursue additional growth opportunities and drive overall profitability. As we move forward, we are committed to serving our customers and to delivering value to our shareholders." Mr. Miller, age 59, has over 35 years of broad-based executive management experience in the manufacturing, distribution, and transportation industries in both public and private equity companies. From 2008 until 2016, he served in operational and financial management positions of increasing responsibility at Navistar International Corporation (“Navistar”), a global manufacturer of commercial and military trucks, school buses, diesel engines, and provider of service parts for trucks and diesel engines, and most recently, from 2014 as senior vice president operations and corporate finance. Mr. Miller’s prior positions at Navistar included vice president and general manager for specialty business as well as vice president and chief financial officer for engine and parts. Prior thereto, he served in the role of chief financial officer of Laidlaw International, Inc., a provider of public transportation services, Chicago Metallic Corporation, a global manufacturer of suspended ceiling and metal products, Fleetpride, Inc., a distributor of heavy duty truck parts, and Peapod, an online grocery delivery company.  Mr. Miller received his Masters degree in Business Administration from the University of Michigan and a Bachelor of Arts degree in economics from DePauw University. Mr. Anderson resigned on May 17, 2017, and the Company and Huron Consulting Services LLC (“Huron”) terminated by mutual agreement the interim services agreement pursuant to which Mr. Anderson was retained to serve in an interim executive role. Separately, on May 17, 2017, the Company entered into a services agreement pursuant to which it engaged Huron as a financial advisor to the Company. Pursuant to the services agreement, Huron will provide prescribed financial advisory services and the Company will pay Huron hourly-based fees at prescribed rates. Also, on May 17, 2017, Jay J. Hansen, Ellen R. Hoffing and Mary E. Vogt notified the Board of their resignation as directors, including as members of the audit committee of the Board, effective as of May 31, 2017 or earlier if the Company elects a replacement director. They expressed that their resignations were not the result of any disagreement on any matters relating to the Company’s operations, policies or practices but were due to other personal and professional obligations and commitments. The Company thanked them for their service. The Board anticipates conducting an active search for qualified, independent director candidates to begin filling the vacancies on the Board as a result of the foregoing resignations, with a view toward recruiting candidates with the requisite knowledge and experience to serve as audit committee members. About Power Solutions International, Inc.  Power Solutions International, Inc. (PSI or the Company) is a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The Company's unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines that run on a wide variety of fuels, including natural gas, propane, biogas, gasoline and diesel. PSI develops and delivers powertrains purpose built for the Class 3 through Class 7 medium duty trucks and buses for the North American and Asian markets, which includes work trucks, school and transit buses, terminal tractors, and various other vocational vehicles.  In addition, PSI develops and delivers complete industrial power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, distributed generation, demand response, and co-generation power (CHP) applications; and mobile industrial applications that include forklifts, aerial lifts, industrial sweepers, aircraft ground support, arbor, agricultural and construction equipment. For more information on PSI, visit www.psiengines.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities.  These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward looking statements by using words such as "expect," "contemplate," "anticipate," "estimate," "plan," "will," "would," "should," "forecast," "believe," "outlook, " "guidance," "projection," "target" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including, without limitation: the final results of the Audit Committee’s internal review as it impacts the Company’s accounting, accounting policies and internal control over financial reporting; management’s ability to successfully implement the Audit Committee’s remedial recommendations; the reasons giving rise to the resignation of the Company’s prior independent registered public accounting firm; the time and effort required to complete the restatement of the affected financial statements and amend the related Form 10-K and Form 10-Q filings; the subsequent discovery of additional adjustments to the Company’s previously issued financial statements; the timing of completion of necessary re-audits, interim reviews and audits by the new independent registered public accounting firm; the timing of completion of steps to address and the inability to address and remedy, material weaknesses; the identification of additional material weaknesses or significant deficiencies; variances in non-recurring expenses; risks relating to the substantial costs and diversion of personnel’s attention and resources deployed to address the financial reporting and internal control matters and related class action litigation; the impact of the resignation of the Company’s former independent registered public accounting firm on the Company relationship with its lender and trade creditors and the potential for defaults and exercise of creditor remedies; the impact of the previously disclosed investigation initiated by the SEC and any related or additional governmental investigative or enforcement proceedings; the impact of recent resignations of the Company’s directors and certain executive officers and any delays and challenges encountered in recruiting recruit replacements and the replacements’ transition into their positions; and any negative impacts from delisting of the Company’s common stock from Nasdaq and any delays and challenges in obtaining a re-listing on a stock exchange. Actual events or results may differ materially from the Company’s expectations. The Company’s forward-looking statements are presented as of the date hereof. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.


News Article | May 12, 2017
Site: www.prweb.com

EmployeeChannel, Inc., a leading provider of mobile apps for employee engagement and communication, announced today that Steve Bailey has joined the executive team as vice president, enterprise sales. Steve is responsible for the strategic and tactical sales initiatives required to meet the company’s growth objectives for revenue, profitability, and market dominance and to do so while fostering the highest levels of customer satisfaction. “We’re pleased to add Steve to the team. He has a proven track record of delivering consistent top-line revenue growth, recruiting and developing world-class sales teams, and ensuring that the customer voice is reflected in the company’s decision making,” said Steve L. Adams, EmployeeChannel CEO. “Steve is an experienced sales executive in the HR technology marketplace and is sensitive to the enterprise needs of HR professionals and the organizations they lead. We felt that adding his experience and expertise to the team would reinforce our team’s commitment to the strategic priorities of HR, particularly the delivery of a compelling employee experience.” Steve Bailey recently served as the Vice President of Sales, North America at Cornerstone OnDemand, a leader in talent management software. Prior to joining Cornerstone, Steve served as a Regional Vice President of Sales at SumTotal Systems, a provider of Human Capital Management solutions, and as a Regional Sales Manager at Concur Technologies, a provider of T&E Management Solutions. Steve has a B.A. in Liberal Arts, from DePauw University. EmployeeChannel is a leading provider of award-winning mobile apps for employee engagement and communication, enabling HR and Internal Communications teams to boost the impact and effectiveness of employee communication, to create a positive employee experience, and to drive cultural and business outcomes. The EmployeeChannel app extends the knowledge and reach of organizational experts to employees anytime, anywhere and is dedicated to the interactions between an organization and its employees. Employees can find and receive organizational information easier and faster, get personalized responses to requests, and react quickly to time-sensitive events. HR and Internal Communications teams can respond in real-time to organizational imperatives and employee needs using behavioral insights from Voice of the Employee analytics. To learn more about the EmployeeChannel app and how it can be used to engage and communicate with employees, please visit http://www.employeechannelinc.com.


Grant
Agency: NSF | Branch: Continuing grant | Program: | Phase: NUCLEAR PRECISION MEASUREMENTS | Award Amount: 90.00K | Year: 2013

The electroweak standard model describes two of the four fundamental forces present in the universe. By conducting experiments that probe with increasing sensitivity phenomena that can be described with this model, it is hoped discrepancies will appear that will lead to a more complete understanding of the weak interaction which is responsible for the decay, or transformation, of the neutron into a proton, electron and antineutrino. Among the measurements that can be made involving neutron decay are correlations between the properties of the neutron and its decay products. One of these correlations, known as little a, involves the direction of emission of the electron and antineutrino from the decay region. Other neutron decay correlations are known to within 1%, but little a is only known to 4%. After several years of planning and construction, the aCORN (a CORrelation in Neutron decay) collaboration is in the process of collecting data on the fundamental physics beamline at the NIST (National Institute of Standards and Technology) Center for Neutron Research (NCNR). This grant will provide support that will allow DePauw University undergraduate students and the Principal Investigator to continue participating in the experiment.


Grant
Agency: NSF | Branch: Standard Grant | Program: | Phase: | Award Amount: 285.63K | Year: 2012

This funding renews a long-running and highly-successful CISE Research
Experiences for Undergraduates (REU) site at DePauw University. The
site exposes students to a range of topics in Computer Science, including
pen-based computing, computer-supported cooperative work, assistive
technology, natural language processing, functional programming
languages, wireless sensor networks, programming pedagogy, parallel
programming, and virtual reality. Students will work in small teams
with a mentor and will experience conducting research as part of a team,
disseminating research results, and participating in a community of
scholars.

This REU site will allow 24 students (over three years) to experience
research in a variety of areas in Computer Science. The site focuses
on recruiting students from undergraduate-only institutions, who do not
have as ready access to research opportunities as students at research
universities. The site?s primary objective is to encourage talented
students enrolled at undergraduate institutions to pursue graduate
studies and research careers in Computer Science.


Grant
Agency: NSF | Branch: Standard Grant | Program: | Phase: IUSE | Award Amount: 288.99K | Year: 2016

This projects goal is to test an integrated bottom-up/top-down model of institutional reform within a college of liberal arts STEM division. The broad strategy is to provide momentum to fuel a transition from an active mobilization stage of this faculty-driven initiative to subsequent stages: implementation and then institutionalization. Initial grassroots efforts have led to base-level support for division-wide engagement of this goal. This model of change is focused on moving the STEM faculty towards significant course transformation reflective of the growing evidence base indicating what works while simultaneously developing a productive STEM learning community. This will be accomplished partly through curriculum reform awards that would be made to individuals or faculty teams to redesign their courses or to develop new, team-taught interdisciplinary courses. Linked to the awards are best practices pedagogical workshops that also engage interdisciplinary faculty teams from other institutions.

This project is building on the work of Ann Austin [Promoting evidence-based change in undergraduate science education. Paper presented at the Fourth Committee Meeting on Status, Contributions, and Future Directions of Discipline-Based Education Research, 2011] and Susan Elrod and Adrianna Kezar [Facilitating interdisciplinary learning: Lessons learned from Project Kaleidoscope. Change: The Magazine of Higher Learning, Jan-Feb 2012]. The institution itself will add additional diversity to the group of institutions supported by EHR grants working to achieve institutional transformation.


Grant
Agency: NSF | Branch: Continuing grant | Program: | Phase: | Award Amount: 218.08K | Year: 2012

This study investigates the complex, episodic development of an ancient mountain belt (the Yanshan belt), relics of which now form the rugged terrain underlying the Great Wall of China north of Beijing. Recent work in the Yanshan belt has begun to document a complex geologic history that includes multiple, cyclic episodes of crustal shortening, extension, and volcanism that took place from approximately 200 to 100 million years ago. The causes of this tectonic cyclicity are presently unclear (although multiple potential drivers exist), in part because the timing and geographic extent of each individual event is imprecisely known. The purpose of this study is to use field geologic mapping, sedimentary basin analysis, geochemistry, and radiometric dating (U-Pb zircon dating of volcanic and plutonic rocks, and detrital U-Pb and Hf dating) to better constrain the age and extent of the multiple events evident in the geology of the Yanshan. Resultant data would have bearing on major questions such as: (1) Can the variety of structures developed in the Yanshan be deconvolved into individual events that tie to discrete plate boundary processes, or is deformational complexity in the Yanshan the result of long-term, progressive deformation associated with multiple drivers?; (2) Can the magnitude of shortening be quantified in the Yanshan belt?; (3) When and by what process did lithosphere loss occur in the eastern North China craton?

Establishment of a robust tectonic history for the Yanshan region will place much-needed additional constraints on key events in the evolution of eastern Asia. These events include multiple continental collisions that were responsible for the early assembly of Asia, the initiation and development of the western Pacific plate boundary, and a mysterious loss of the ancient continental lithosphere that once underpinned the Yanshan belt and surrounding regions. This work may also yield insights into the development of mountain belts in general, including how crustal extension, compression, and volcanism interact in time and space during mountain building, how the continental crust and lithosphere respond to repeated magmatic and tectonic events, and how the lithosphere and mantle interact during crustal thickening.

This project is an extension of a long-term collaborative venture between the PI and Chinese researchers from China University of Geosciences, Beijing. The project will support summer research in China for DePauw University undergraduate students and foster collaborative relationships between these students and students from China University of Geosciences, Beijing. This project is supported by the Earth Sciences Division Tectonics Program and the NSF Office of International Science and Engineering.

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