Michelle Sobrino-Stearns, Variety CEO and Group Publisher, who has been the driving force in the business transformation of Variety over the past dozen years, will step down next month after 28 years with the venerable entertainment news brand.
Sobrino-Stearns is segueing to an entrepreneurial venture with a startup fashion brand. The decision fulfills her long-held desire to help build a business from the ground up.
With Sobrino-Stearns’ departure, Dea Lawrence will take on the top business role at Variety, advancing to co-president and publisher. Ramin Setoodeh has been named co-president in addition to his role as co-Editor in Chief.
Setoodeh will take on greater responsibility for steering the strategic direction of Variety and the expansion of its editorial activities across a range of content and platforms. Cynthia Littleton, who has served as Variety’s co-Editor-in-Chief since 2020, will continue to jointly oversee all newsgathering and editorial operations with Setoodeh.
Lawrence, Setoodeh and Littleton will report to Jay Penske, chairman and CEO of Variety’s parent company, Penske Media Corporation, and Craig Perreault, PMC’s president of media and corporate development.
“It has been a privilege to work alongside Michelle over the last 13 years,” said Jay Penske. “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. She has continually innovated, elevated, and strengthened Variety with vision and passion, demonstrating an unparalleled ability to embrace challenges and drive success. Michelle is one of the most talented executives I’ve ever worked with. Her legacy at Variety is immeasurable, and she will be deeply missed by all of us. I wish her nothing but the greatest success in her next chapter ahead.”
Sobrino-Stearns leaves an indelible imprint on Variety after three decades as a tireless champion of the showbiz bible. She created the Power of Women event franchise that has become a tentpole of Variety’s year and has expanded to New York and Nashville, with more to come. She was instrumental in the launch of Variety’s annual Dealmakers and Power of Law features, among others. She drove the deal to bring Variety’s “Actors on Actors” interview series to TV in 2014.
Sobrino-Stearns joined Variety in 1997. In 2012, after Penske Media Corp. acquired Variety, she was hand-picked by Penske to lead the brand as publisher during a period of dramatic transformation. She was the first woman to serve as Variety publisher, and in 2020 she became Variety’s first-ever CEO.
In a letter to Variety staff, Sobrino-Stearns expressed gratitude to her colleagues past and present. “For 28 years, working alongside the most passionate, creative, inspiring people in the entertainment business has been the honor of a lifetime,” she wrote.
“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. 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.”
Lawrence is rising from her previous role as the top lieutenant to Sobrino-Stearns. As chief operating officer and chief marketing officer, Lawrence has helped lead Variety’s industry-leading growth during the past decade by developing a robust slate of live events, branded content and marketing initiatives.
“Dea is an energetic leader, innovator and executive with a deep love for Variety,” said Jay Penske. “Dea’s ability to continuously inspire teams, embrace challenges, and execute with excellence makes her perfectly poised to lead Variety into its next chapter.”
In her role as chief operating and marketing officer, Lawrence has been a pivotal player in the evolution of the 120-year-old entertainment brand into a modern, multi-platform media powerhouse. Since rejoining the company in 2015, she has spearheaded significant, quantifiable growth across its digital, events, and branded content divisions, expanding the live events portfolio to over 90 annual events and successfully pivoting to a virtual events franchise during the pandemic. Lawrence also created the Variety Content Studio and spearheaded the launch of the top-rated iHeartMedia podcast “Variety Confidential.”
“It is a profound honor to assume this new leadership position and to collaborate with such an exceptionally talented and dedicated team – the brightest and best in the entertainment industry. I am inspired daily by their passion, drive, and commitment to winning,” said Lawrence. I am grateful to Jay and the organization for their continued belief and commitment to me, and I am forever grateful to my mentor, partner and friend Michelle Sobrino-Stearns, who has defined the meaning of a visionary. I look forward to building on Variety’s legacy as we continue to innovate and shape the future together.”
In his new role, Setoodeh will take on a greater role in guiding strategic decision-making around the expansion of Variety into new coverage areas, new editorial mediums including video, short-form content and podcasting, and the continued expansion of Variety’s robust international film festival programming and activities.
Setoodeh has been co-Editor-in-Chief since 2022. He joined Variety in 2013 as New York film editor. He advanced to New York bureau chief in 2015 and to executive editor in 2020. Before Variety, he was senior writer for Newsweek.
Littleton first joined Variety in 1997. She has co-hosted Variety’s “Strictly Business” interview podcast since 2018. In July, she launched the spinoff “Daily Variety” podcast, offering entertainment business news and analysis from Variety journalists, Monday-Thursday by 10 a.m. PT.
Sobrino-Stearns’ departure marks a significant milestone for Variety, given her tenure and the imprint she leaves on the brand that is celebrating its 120th year.
“Michelle has been the heart and soul of Variety for as long as either of us can remember. Her singular vision as CEO under Jay Penske has helped us build Variety into the global powerhouse newsroom that it is today. We are excited to congratulate our friend Dea on her promotion to publisher,” Setoodeh and Littleton said. “As we look ahead to a vibrant future, we’re eager to build on Michelle’s legacy by expanding Variety’s reach and influence into new areas and new markets around the world.”
Here is Sobrino-Stearns’ full memo to staff:
My dear Variety family,
It is with a heavy heart that I am leaving my post as CEO & Group Publisher of Variety. For 28 years, working alongside the most passionate, creative, inspiring people in the entertainment business has been the honor of a lifetime.
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. 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.
I joined Variety in 1997, excited to work with the team behind the entertainment industry’s legendary “Bible of Showbiz.” I dedicated myself to Variety because its mission has always been clear: to offer the best entertainment business news coverage in the world.
And while Variety has always been resilient, it was the innovative vision, investment, and dynamism of Jay Penske and the PMC team who 13 years ago gave it the spark to evolve and thrive in the face of potentially destructive disruption. I remember the gratitude and excitement I felt when Jay trusted me to lead the brand at such a pivotal time. Thanks to Jay’s leadership, we revitalized Variety and achieved something remarkable.
Over 13 years, we strengthened the leading editorial voice, launched a standout live events business that is the envy of the industry, produced Emmy-winning television, launched an authoritative content studio and expanded our thriving consumer business. We overcame a pandemic, and devastating labor strikes, even tragic fires that struck at the soul of our town, emerging stronger and proving Variety is thriving and will remain the #1 entertainment news brand. Every one of you made this possible by coming together with a common purpose, united by your professionalism, pride, and love for the work we do.
It brings me great satisfaction to know I am entrusting the brand to the exceptional leadership of Dea Lawrence, our Co-President and Publisher; Cynthia Littleton, our Co-Editor-in-Chief; and Ramin Setoodeh, our Co-President and Co-Editor-in-Chief. They will be the guiding lights leading Variety into its next, and I believe, even brighter next chapter.
I am grateful to our incredible editorial and business partners who have been part of the Variety family every step of the way. Your trust and collaboration have been central to our success.
Thank you to the heart and soul of our operations: the newsroom, sales, and marketing teams, especially Steve Gaydos, whose creativity always pushed me to dream bigger, and Donna Pennestri, my sister for the past 25 years. Thank you all for filling my days with laughter, brilliance and purpose. You have transformed Variety into nothing short of a phenomenon—a vibrant, thriving media brand that is not just a must-read and must-watch, but an overwhelmingly profitable powerhouse.
On a personal note, Variety even led me to the love of my life. I met my husband, Brian, at the Cannes Film Festival, and he has been a constant source of support. Our beautiful children inspire me daily. So, this is also a day to say “thank you” to my family for their unwavering encouragement.
While I won’t see you in the office, please know that I’ll be cheering you on from the sidelines, celebrating every story, every video, every cover, every event, and every win along the way.
On November 17, I’ll embark on an exciting new chapter as a founding member of a fashion brand. Even as I take this next step, my heart will always belong to this extraordinary company and to all of you.
With love and gratitude,
Michelle
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