Broken Bow Records VP of promotion Jon Loba has exited the company with immediate effect.

Sources familiar with the situation tell that Loba will eventually take a similar role with a new imprint to be launched by Big Machine Records president and CEO Scott Borchetta.

Loba's Nashville attorney, Jason Turner of Lassiter, Tidwell, Davis, Keller & Hogan, contacted with a statement from his client. "I'm very excited about my new opportunity, which will formally be announced very soon," Loba said in the statement. "I wish everyone at BBR well."

The two-year old Big Machine has had success with rising stars Taylor Swift, Jack Ingram and recently-signed country superstar Trisha Yearwood.

As previously reported, Big Machine will handle promotion of newly recorded cuts on Garth Brooks' forthcoming "The Ultimate Hits," which is coming out on his own Pearl Records. The first single, "More Than a Memory" will be released to radio on Aug. 27.

A veteran promotion man, Loba started at Warner Bros. Nashville in 1996 as promotion coordinator and segued to sister label Atlantic Records Nashville as Southeast regional three years later. He joined Broken Bow in a similar capacity in 2001 and was named VP in 2003.

BBR's national director of promotion Lee Adams has assumed the interim role of VP of promotion.

Broken Bow is home to Jason Aldean, Craig Morgan and new band Crossin Dixon, among others.