EnSync Energy Systems announced the addition of key energy industry executives to the leadership team of the company.
William (Bill) Dallapiazza joins EnSync as Chief Financial Officer. Dallapiazza joined EnSync Energy Systems in July 2017 as the Interim Vice President of Finance, where he brought over 22 years of leadership experience in finance and accounting within both publicly held and private equity sponsored companies.
Prior to joining EnSync, from 2014 to 2017,. Dallapiazza served as Vice President and Controller for Franklin Energy Services, an implementer of energy efficiency and educational programs for utilities, municipalities and state partnerships. From 2006 to 2013, he also served as Corporate Controller for RathGibson, a stainless-steel tubing manufacturer, and in various positions with RathGibson’s acquirer, publicly held Precision Castparts Corp., a manufacturer of complex metal components and products.
From 2002 to 2006, he served as Corporate Controller for publicly held The Aristotle Corporation, a provider of educational, health, medical, and agricultural products. Dallapiazza holds a BBA in Accounting and Finance from the University of Wisconsin-Oshkosh and is a Certified Public Accountant.
Kenneth Alft is promoted to Vice President Customer Engineering. Alft joined the company in August 2014 as manager of the Project Engineering group in the Engineering organization, after an extensive career of project management and electrical and control systems positions. From there, Alft was promoted to Manager of Operations, where he was in charge of manufacturing operations, field operations, and project engineering.
As the company greatly expanded the customer base and projects to be executed, Alft took over as manager of the company’s newly created Customer Engineering department. He has successfully built the company capability to design and configure optimized customer distributed energy resources and distributed generation systems, as well as the capability to execute and support projects in the field.
Concurrent with the hiring of Dallapiazza, the company announces the resignation of Frederick Vaske, Chief Administrative Officer (CAO). Dallapiazza and Simms Duncan, VP of Structured Finance will direct report to Brad Hansen, President and Chief Executive Officer.
“We’re very excited to have Bill join the company. In his capacity of Interim Vice President of Finance he has brought a strong focus on maximizing our balance sheet efficiency, business processes, and cost management. Ken has been instrumental in building the company and improving our operational execution. His promotion recognizes his significant contribution,” said Brad Hansen, CEO and President of EnSync Energy Systems. “We’d also like to thank Fred Vaske for his contribution to the company, including helping us develop the structured finance role and building the overall finance and accounting roles in the company.”
As an inducement to join the Company as CFO, Dallapiazza was issued inducement stock options to purchase a total of 120,000 shares of Company common stock with an exercise price of $0.37 per share, which was the closing price of the Company’s common stock on the NYSE American on February 9, 2018.
The options will vest and become exercisable in three equal annual installments. Dallapiazza was also issued an award of inducement restricted stock units covering 180,000 shares of Company common stock that will vest upon the achievement of certain performance vesting conditions.