Variety CEO Michelle Sobrino-Stearns is leaving her role at the entertainment publication after nearly three decades.

Sobrino-Stearns, also Group Publisher of the Penske-owned outlet and the mind behind its annual Power of Women event, announced in a memo to staffers on Tuesday that she’ll be leaving the company she joined in 1997. Her last day will be Nov. 17, after which she’ll “embark on an exciting new chapter as a founding member of a fashion brand.”

“For 28 years, working alongside the most passionate, creative, inspiring people in the entertainment business has been the honor of a lifetime,” Sobrino-Stearns wrote. “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. … E

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