PSI executive to retire

WOOD DALE - Power Solutions International announced Chief Financial Officer Daniel Gorey will retire effective Oct. 19 and Michael P. Lewis will replace Gorey in that role.

Gorey joined PSI as senior vice president of finance in July 2011, bringing extensive experience with publicly traded companies to help guide PSI's transition from private to public. He assumed the role of chief financial officer in April 2012.

"Dan's skills and leadership have been instrumental in helping PSI successfully navigate a period of significant growth and change," said Gary Winemaster, PSI's Chairman and Chief Executive Officer. "On behalf of our entire organization, I sincerely thank him for his valuable contributions and service. We wish him the very best."

Lewis brings more than 20 years of financial experience in the automotive manufacturing sector to his new position at PSI. He served most recently as vice president, finance and chief financial officer for North American operations at Benteler Automotive, a global automotive component supplier. While there, Lewis oversaw a major restructuring of operational efforts including manufacturing footprint, supply chain and operational disposition, which improved EBITDA by over 20 percent from the prior run-rate.

"It's a tremendous opportunity to join a proven market leader such as PSI, at such an exciting time," Lewis said. "It has a solid operational reputation and strong leadership, and is well positioned to deliver value through product innovation and profitable growth. I look forward to being part of PSI's management team to support PSI's goals and to serve its shareholders."

Prior to his tenure at Benteler, Lewis served as vice president, treasurer and director of investor relations from 2010 to 2012 at Visteon, the Van Buren, Michigan-based manufacturer of products for vehicle OEMs worldwide. He began at Visteon in 2000, with increasing financial management responsibility, including director of mergers and acquisitions and assistant treasurer. Before joining Visteon, Lewis worked at Ford Motor Company from 1993 to 2000, serving as an analyst in several capacities before becoming a Forecasting Team and Corporate Finance Project Manager.

"We're thrilled to be bringing on an executive of Michael's caliber," said Winemaster. "His combination of broad financial experience and deep automotive and manufacturing knowledge make him perfectly suited to take over the role of CFO at PSI."