Jorge Naranjo, who has served as president of the Cardenas Marketing Network since 2003, has left to form his own management and booking company.

Naranjo's agency, Global Management and Booking, is a partnership with former EMI Latin promotions executive Fabio Acosta. Acosta also recently founded digital label 786 Music, whose acts include Colombian rock group Don Tetto.

In a statement announcing his departure, Naranjo said, "I am very thankful to my family of CMN for all [these] years and I wish them all the best in their future endeavors."

Naranjo has 16 years of experience promoting Latin concerts and sporting events, as well as festivals such as Planeta Wrigley.