RGS Energy announced it has appointed Dennis Lacey as chief executive officer, succeeding Kam Mofid, who has departed to pursue other interests.

Lacey formerly served as president of RGS Energy’s Residential Solar division. He brings to his new role as CEO of RGS Energy more than 25 years of executive financial management experience. Prior to joining RGS Energy in April 2014, Lacey held a number of senior executive positions at Imperial Bancorp, a $6 billion publicly-traded commercial bank best known for its high-tech lending practice, before it was acquired by Comerica.

At Imperial Bancorp, he served as executive vice president and CFO, president of the SBA Division, and president of the Equipment Leasing Division. Before Imperial Bancorp, Lacey served as president and CEO of Capital Associates, a publicly traded equipment leasing company.

Lacey also previously served as CFO of two multi-billion dollar publicly-traded companies, TeleTech and CKE Restaurants, as well as head of capital markets for a private investment firm engaged in aircraft leasing and alternative asset management. Earlier in his career, Lacey was an audit partner at Coopers & Lybrand.

David Belluck, RGS Energy’s chairman of the board commented: “The board of directors has evaluated our company’s prospects and we’ve determined our best opportunities for realizing greater shareholder value reside within the residential solar division. Given Dennis’ highly successful career accomplishments—particularly with turnaround situations and more recently his strong leadership of our residential division—we have identified in Dennis the essential experience and skill set needed to return RGS Energy to profitability as we focus more on the residential segment of our business.”

“Additionally, Dennis’ deep knowledge and executive experience in public and private equipment lease finance companies will help us further develop this higher margin residential solar business,” added Belluck. “The board and I thank Kam for his contributions and wish him success in the future.”

Louisville, CO-based RGS Energy is one of the nation’s pioneering solar energy companies serving residential and commercial customers. Beginning with one of the very first photovoltaic panels sold to the public in the U.S. in 1978, the company has installed more than 22,500 solar power systems representing over 235 megawatts of 100% clean renewable energy.