Michael Potts on Thursday was appointed the CEO of think-tank Rocky Mountain Institute. A high-tech industry veteran, Potts succeeds Amory Lovins, 59, who becomes the institute's chairman and chief scientist. Both changes take effect immediately, as Chairman John Fox changes his role to lead trustee.

"The world is waking up to the need for efficient and restorative use of natural resources," Potts, 50 said. "I relish this chance to work with the great people in and around RMI to create a safer and more prosperous world."

A Denver resident, the 50-year-old Potts will split his time between the institute's Boulder office and its headquarters in Old Snowmass.

The management shuffle, it seems, was geared to free up Lovins who's in great demand as a speaker and senior advisor. A co-founder of the 25-year-old institute, Lovins, "in his new role freed of management responsibilities, will focus on thought leadership, strategic influence, and high-impact special initiatives," the institute said.

Those include leading the implementation of the institute's Pentagon co-sponsored roadmap, Winning the Oil Endgame, for getting the U.S. completely off oil by the 2040s, led by business for profit.

The institute says its technical experts have redesigned $30 billion worth of facilities in 29 sectors for radical energy and resource efficiency.

Potts was most recently Managing Partner of Galway Investments, a boutique investment firm. Previously, he served as CEO for American Fundware, creator of the FundWare line of software product used by more than 2,000 non-profit and government organizations, and held other senior positions with fast growing high-technology companies.