The company said in a securities filing Wednesday that it had worked out an arrangement with Smith that would have him continue as CFO beyond June 30. Smith had previously told the company he would stay on to help with the transition of his responsibilities to a successor.
Koss chairman and chief executive officer Michael Koss did not immediately return a message regarding whether Smith would now be staying on long-term or until a successor is found.
The new arrangement calls for Smith to relinquish his responsibilities as executive vice president and secretary of the company at the end of June.
The company said Elizabeth Uecker, Koss controller, would take over as secretary on July 1. Uecker has been with the company since June 2015.