The co-founders of Torrance solar panel installer Verengo Solar are leaving their leadership posts as a tech marketing executive has been named as the new chief executive, the company announced Wednesday.
Co-founders Randy Bishop and Ken Button – chief executive and president respectively – are leaving the company to pursue other ventures, according to a statement from the company. The pair founded Verengo in 2008 and turned it into the nation’s sixth largest residential solar panel installer, and by far the largest headquartered in Southern California, with $116 million in sales in 2013.
“Ken and Randy started Verengo and grew it into a solar industry leader with more than 15,000 residential installations and national recognition as the largest privately held rooftop solar company,” said Zeb Rice, managing director of Angeleno Group of Century City, Verengo’s largest investor.
Taking over as Verengo chief executive will be Anders Dahl, who recently served as an executive with the Santa Monica direct marketing firm Guthy-Renker, the company best known for its marketing of acne treatment Proactiv Solution.
“Anders has a tremendous track record of generating growth while maximizing profit in his previous roles as marketing executive, president and chief executive,” Bishop said. “That kind of expertise, along with our company’s Southern California roots and deep understanding of and commitment to the local community, will enable Verengo to capitalize on its unique position as the largest solar company focused on the Southern California market.”
The company has not yet announced a replacement for Button as president.
The Business Journal and other publications reported last May that Verengo had put itself up for sale, retaining Bank of America Merrill Lynch as its adviser; the company never confirmed the reports.
In February, Verengo sold off its Northeastern U.S. division to NRG Energy of Princeton, N.J. Financial terms of the sale were not disclosed, but the deal involved the transfer of more than 100 Verengo employees to NRG.