Michelle Sobrino-Stearns, whose 28-year career at Variety includes a 12-year tenure as CEO and group publisher, will exit next month to begin a new venture with a startup fashion brand, the publication reported Tuesday.
Dea Lawrence, Sobrino-Stearns’ top lieutenant, will assume her top business role, with the title of co-president and publisher. Co-Editor-in-Chief Ramin Setoodeh will retain his title while being elevated to co-president. Co-Editor-in-Chief Cynthia Littleton will continue to run newsgathering and editorial operations alongside Setoodeh.
All three will report to Penske Media Corporation chairman and CEO Jay Penske and PMC president of media and corporate development Craig Perreault.
“It has been a privilege to work alongside Michelle over the last 13 years,” Penske said in a statement via Variety. “From the pivotal moment of PMC’s acquisition of Variety, Michelle’s fearless leadership, creativity and dedication have been instrumental in transforming the brand into the powerhouse it is today.”
Sobrino-Stearns was chosen by Penske to lead the brand as publisher in 2012 when Penske Media Corp. acquired Variety, where Sobrino-Stearns had been since 1997.
“Brands are only as good as the people that bring them to life, who protect their integrity, and who guide them through growth, challenges and change,” she wrote in a letter to Variety staff. “For 120 years, Variety has thrived because of the talent and leadership of the award-winning and gifted journalists in our newsroom and on our publishing teams.”
