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CEO Colasanti leaving Carmichael Lynch
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Longtime Carmichael Lynch CEO John Colasanti announced Tuesday that he is leaving the nationally known advertising agency in April to pursue "brand marketing opportunities" outside of the firm.
Colasanti, who has been with Carmichael Lynch for 15 years, said he will spend time with his family before "diving into my next professional challenge."
Leaving the agency is difficult, Colasanti said, "but it's absolutely the right time for me to do this."
Agency spokeswoman Ellen Montgomery said Colasanti, 49, was sincere about it being the right time to leave and that his decision was not based on outside factors, such as troubled accounts.
According to AdWeek, the firm's billings and revenue were flat in 2007 at $444 million and $60 million, respectively. Figures for 2008 aren't available, but billings nearly doubled in the last eight years from $224 million in 1999.
Earlier this year, Carmichael Lynch rolled out the new advertising campaign for Subaru of America, a $200 million account. Subaru was recently named "automotive marketer of the year" by the trade publication MediaPost.
Other high-profile clients that Carmichael Lynch landed during Colasanti's tenure include Porsche Cars North America (which has since moved to another agency), Ikea, Tractor Supply Co. and Jack Link's Beef Jerky.
Carmichael Lynch is perhaps best known as the agency of record for Harley-Davidson, a client for nearly 30 years.
There will be a staff meeting this morning to outline plans for the leadership structure after Colasanti departs. Besides Colasanti, the current leadership team consists of Mike Lescarbeau, president and chief creative officer, and Mark Feriancek, chief financial and operating officer.
David Phelps • 612-673-7269
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