- Sunlight Financial has elevated COO Timothy Parsons to lead the company as its CEO
- He replaces former CEO Matt Potere, who has moved to a strategic advisory role
- The leadership change follows a Chapter 11 restructuring process of the company
US-based Sunlight Financial Holdings has announced the promotion of the company’s Chief Operating Officer (COO) Timothy Parsons to its chief executive officer (CEO) following the company’s acquisition by a consortium of solar energy industry investors.
Former CEO Matt Potere has moved to a strategic advisory role at Sunlight. Parsons will now lead the company to expand its market presence with measures as extended payment terms, rewards bonus and faster payment times.
“As I step into this new role, the rest of the leadership team and I will continue to deepen our relationships with contractors and capital providers, drive innovation and value at every turn, and ensure Sunlight’s long-term success,” said Parsons.
A technology-enabled point-of-sale finance company, Sunlight partners with contractors to provide financing to homeowners for residential solar systems. It was acquired by an affiliate of Greenbacker Capital Management, Sunstone Credit, IGS Ventures among other consortium members, along with Cross River Bank (CRB) in December 2023.
