Amy Pascal steps down as Sony Pictures chairman after hack debacle

Before you go, we thought you'd like these...
Before you go close icon

23 PHOTOS
video at top: Amy Pascal - former Sony executive
See Gallery
Amy Pascal steps down as Sony Pictures chairman after hack debacle
In the wake of the Sony hacking incident, Amy Pascal is stepping down as co-chairman but will continue with working with the company as a producer.
HOLLYWOOD, CA - JANUARY 06: Amy Pascal, Co-Chairman of Sony Pictures Entertainment and Chairman of Sony Pictures Entertainment Motion Picture Group and actor Josh Gad arrive to the premiere of Screen Gems' 'The Wedding Ringer' at the TCL Chinese Theatre on January 6, 2015 in Hollywood, California. (Photo by Alberto E. Rodriguez/Getty Images)
Sony Pictures Chair Amy Pascal arrives for the premiere of the film 'The Interview' at The Theatre at Ace Hotel in Los Angeles, California on December 11, 2014. The film, starring US actors Seth Rogen and James Franco, is a comedy about a CIA plot to assassinate its leader Kim Jong-Un, played by Randall Park. North Korea has vowed 'merciless retaliation' against what it calls a 'wanton act of terror' -- although it has denied involvement in a massive cyber attack on Sony Pictures, the studio behind the film. AFP PHOTO/STR (Photo credit should read -/AFP/Getty Images)
Amy Pascal, the highly regarded, and recently somewhat infamous, co-chair of Sony Pictures Entertainment will be leaving her post in May and embarking upon a different venture at the studio.
LOS ANGELES, CA - DECEMBER 11: Co-Chairman of Sony Pictures Entertainment Amy Pascal attends the Premiere of Columbia Pictures' 'The Interview' at The Theatre at Ace Hotel Downtown LA on December 11, 2014 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)
Two months after a devastating cyber-attack, Sony Pictures Entertainment co-chairman Amy Pascal is stepping down from her post, the studio announced on Thursday. Pascal will launch a new production venture at the studio starting in May.
WESTWOOD, CA - JUNE 10: Director Chris Miller, Amy Pascal, Co-chairman, Sony Pictures Entertainment, director Phil Lord and president of Production for Columbia Pictures Hannah Minghella attend the Premiere Of Columbia Pictures' '22 Jump Street' at Regency Village Theatre on June 10, 2014 in Westwood, California. (Photo by Kevin Winter/Getty Images)
HOLLYWOOD, CA - JUNE 05: (L-R) Lone Star Funds President Andre Collin, Co-Chairman of Sony Pictures Entertainment Amy Pascal, and President of Columbia Pictures Doug Belgrad attend the 2014 AFI Life Achievement Award: A Tribute to Jane Fonda at the Dolby Theatre on June 5, 2014 in Hollywood, California. Tribute show airing Saturday, June 14, 2014 at 9pm ET/PT on TNT. (Photo by Michael Kovac/Getty Images for AFI)
BEVERLY HILLS, CA - MAY 07: Co-Chairman of Sony Pictures Entertainment Amy Pascal (L) and Jenny Pascal attend the TEEN LINE 2014 Food For Thought Luncheon at Beverly Hills Hotel on May 7, 2014 in Beverly Hills, California. (Photo by Imeh Akpanudosen/Getty Images)
BEVERLY HILLS, CA - JANUARY 10: Actress Amy Adams (L) and Co-Chairman of Sony Pictures Entertainment and Chairman of Sony Pictures Entertainment Motion Picture Group Amy Pascal attend the 14th annual AFI Awards Luncheon at the Four Seasons Hotel Beverly Hills on January 10, 2014 in Beverly Hills, California. (Photo by Michael Kovac/Getty Images for AFI)
BEVERLY HILLS, CA - JANUARY 10: Amy Pascal and actress Robin Wright attend the 14th annual AFI Awards Luncheon at the Four Seasons Hotel Beverly Hills on January 10, 2014 in Beverly Hills, California. (Photo by Michael Kovac/Getty Images for AFI)
LOS ANGELES, CA - OCTOBER 19: Amy Pascal and Bryan Lourd attend 'An Evening Under The Stars' Benefiting The L.A. Gay & Lesbian Center on October 19, 2013 in Los Angeles, California. (Photo by Araya Diaz/Getty Images)
BEVERLY HILLS, CA - OCTOBER 04: Honoree Amy Pascal speaks onstage during Variety's 5th Annual Power of Women event presented by Lifetime at the Beverly Wilshire Four Seasons Hotel on October 4, 2013 in Beverly Hills, California. (Photo by Kevin Winter/Getty Images for Variety)
HOLLYWOOD, CA - JUNE 06: Bernard Weinraub and Co-chair of Sony Pictures Entertainment, Inc. and Chairman of SPE's Columbia TriStar Motion Picture Group Amy Pascal attend the 41st AFI Life Achievement Award Honoring Mel Brooks at Dolby Theatre on June 6, 2013 in Hollywood, California. Special Broadcast will air Saturday, June 15 at 9:00 P.M. ET/PT on TNT and Wednesday, July 24 on TCM as part of an All-Night Tribute to Brooks. (Photo by Kevin Winter/Getty Images for AFI)
BEVERLY HILLS, CA - MARCH 21: Co-Chairman of Sony Pictures Amy Pascal attends 'An Evening' benefiting The L.A. Gay & Lesbian Center at the Beverly Wilshire Four Seasons Hotel on March 21, 2013 in Beverly Hills, California. (Photo by Jason LaVeris/FilmMagic)
BEVERLY HILLS, CA - MARCH 21: Amy Pascal and Bernard Weinraub attend attend An Evening Benefiting The L.A. Gay & Lesbian Center Honoring Amy Pascal and Ralph Rucci on March 21, 2013 in Beverly Hills, California. (Photo by Stefanie Keenan/WireImage)
BEVERLY HILLS, CA - MARCH 21: Honoree Amy Pascal, Co-chairman, Sony Pictures Entertainment speaks at 'An Evening' benefiting The LA Gay & Lesbian Center at the Beverly Wilshire Hotel on March 21, 2013 in Beverly Hills, California. (Photo by Kevin Winter/Getty Images)
HOLLYWOOD, CA - DECEMBER 10: Co-Chairman, Sony Pictures Entertainment Amy Pascal (L) and actress Jessica Chastain attend the 'Zero Dark Thirty' Los Angeles Premiere at Dolby Theatre on December 10, 2012 in Hollywood, California. (Photo by Lester Cohen/WireImage)
BEVERLY HILLS, CA - DECEMBER 05: Co-Chairman of Sony Pictures Amy Pascal attends The Hollywood Reporter's 'Power 100: Women In Entertainment' Breakfast at the Beverly Hills Hotel on December 5, 2012 in Beverly Hills, California. (Photo by Alexandra Wyman/Getty Images)
WESTWOOD, CA - JUNE 28: Director Marc Webb and Co-Chairman of Sony Pictures Amy Pascal attend the after party for the Los Angeles premiere of 'The Amazing Spiderman' at Regency Village Theatre on June 28, 2012 in Westwood, California. (Photo by Lester Cohen/WireImage)
HOLLYWOOD, CA - FEBRUARY 05: Amy Pascal on stage at the 2011 Writers Guild Awards at Renaissance Hollywood Hotel on February 5, 2011 in Hollywood, California. (Photo by Craig Barritt/Getty Images for WGAw)
HOLLYWOOD - JANUARY 29: Producer Harvey Weinstein (L) and Sony Pictures Entertainment co-chairman Amy Pascal in the audience at the 63rd Annual Directors Guild Of America Awards held at the Grand Ballroom at Hollywood & Highland on January 29, 2011 in Hollywood, California. (Photo by Kevin Winter/Getty Images for DGA)
of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

By THE WRAP

Former exec will transition to a producing deal with studio in May

Sony Pictures Entertainment boss Amy Pascal is stepping down as Co-Chairman of SPE and Chairman of the Motion Picture Group and will segue into a launching a new production venture at the studio in May, the company announced Thursday.

Pascal's new company will focus on films, television and theater. As part of a four-year agreement, SPE will finance the new company and retain all distribution rights worldwide to films financed. The venture will be located at the Sony Pictures lot in Culver City.

"I have spent almost my entire professional life at Sony Pictures and I am energized to be starting this new chapter based at the company I call home," said Pascal in a statement. "I have always wanted to be a producer. Michael and I have been talking about this transition for quite some time and I am grateful to him for giving me the opportunity to pursue my long-held dream and for providing unparalleled support. As the slate for the next 2 years has come together, it felt like the right time to transition into this new role. I am so grateful to my team, some of whom I have worked with for the last 20 years and others who have joined more recently. I am leaving the studio in great hands. I am so proud of what we have all done together and I look forward to a whole lot more."

Pascal joined Sony in 1988 and was named Chairman of the Motion Pictures Group in 2003. In 2006 she added the title of Co-Chairman of SPE in 2006.

"Amy's creativity, drive, and bold choices helped define SPE as a studio where talented individuals could take chances and push boundaries in order to deliver outstanding entertainment," added Michael Lynton, CEO of Sony Entertainment.

The safety of jobs of the studio's top brass had been in question following the crippling hacking attack on the studio in November.

Sony's computer, email and entire phone system were paralyzed in the hacker takedown that began on Monday, Nov. 24. The hack led to thousands of documents containing sensitive information about Sony employees to be leaked to various online outlets, and ultimately led the studio to scrap theatrical release plans for Seth Rogen-James Franco comedy "The Interview."
Amy Pascal To Leave Top Sony Post
Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners