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Tim Garrett, the president of Lost Clothing, has left the La Jolla Group and has formed a marketing agency, The Action Sports Collective.
Tim said with conservative financial plans for 2010 due to the economy, it became clear it would be in the best interest of the company to leave, especially since Lost Clothing has strong department heads in sales, merchandising and design and marketing, and an experienced group executive in Bill Bussiere, the CFO and president of the La Jolla Group.
Toby Bost, CEO of The La Jolla Group, said "The LJG model has evolved significantly over the last year, with a focus on leveraging executive management across the brands. This enables Lost Clothing to operate more efficiently moving forward.
"As President and CFO of LJG, Bill Bussiere will assume the executive duties of Lost Clothing. Ryan Divel has been promoted to VP of sales and marketing and Chad Crites has assumed the role of general manager. The changes are effective immediately."
Tim, who's previous work experiences includes as a partner of Thom McElroy in McElroy Communications, said this new type of marketing agency was something that he worked through with Toby and Bill and he will be working on some projects with La Jolla.
"It's critical that ...Lost Clothing stay lean-and-mean right now, which is the premise of the collective -- everyone has to keep their overhead low due to the economy, but today it's more important than ever to have A+ talent at the fingertips.
"Under The Action Sports Collective, I will partner with great talent to handle bigger initiatives to help strengthen brands, grow sales as well as promote the industry on the whole," he said.
"There is a lot of amazing talent out there in specific disciplines such as strategic planning, creative campaign development, media planning and buying, events, digital content development, production, research, athlete management, etc."