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Power Solutions International, Inc. (NASDAQ:PSIX), a company whose stock has delivered an impressive 1,128% return over the past year, today reported the departure of General Counsel Randall D. Lehner. The separation was mutually agreed upon and effective as of March 4, 2024, terminating the employment agreement that began on the same date.
In accordance with the termination, Power Solutions and Lehner entered into a Separation Agreement and Release on April 30, 2025, which became effective on April 24, 2025. Lehner will receive a severance package totaling $407,325.82, which includes one year of his current salary, two years of car allowance, additional consideration, and continued health coverage for up to 12 months if he opts for COBRA. The company, currently valued at $608 million and trading at a P/E ratio of 8.8, appears to be trading near its InvestingPro Fair Value.
Lehner has also agreed to customary broad form releases, confidentiality obligations, and other covenants as part of the separation terms. The details of the Separation Agreement are outlined in Exhibit 10.1 of the company’s Form 8-K filing.
This announcement comes as the latest corporate update from Power Solutions, an Illinois-based firm specializing in engines and turbines. The company has not yet announced a successor for the General Counsel position.
The financial implications of this departure are detailed in the company’s regulatory filing with the SEC, which serves as the source for this information. Power Solutions International remains committed to its corporate governance and the smooth transition of its legal affairs following Lehner’s departure.
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