Amid the fallout of the Sony hacking crisis, Amy Pascal will step down from her post as co-chairman of Sony Pictures Entertainment, it was announced Thursday.
Pascal elaborated in a statement:
“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. I have always wanted to be a producer. Michael [Lynton] 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.”
As The Hollywood Reporter notes: “The move has been widely expected ever since the studio became engulfed in one of the worst cyber attacks in corporate history and certainly the most embarrassing hit ever taken by a major Hollywood institution in the digital age.”
But Pascal isn’t going far, she will remain on the Sony lot as a producer.
Pascal’s new company will focus on movies, TV, and theatre. “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,” according to The Wrap.
THR adds of Pascal’s legacy at the studio:
As one of Hollywood’s longest-serving studio heads and the industry’s most prominent female executive, Pascal reigned during a time of box-office success and relative calm for the studio, which only began to endure upheavals in its upper ranks in the past year. Perhaps her biggest coup was spearheading the nearly $US4 billion Spider-Man franchise, which remains the highest-grossing superhero franchise in Hollywood.
In December, all hell broke loose after Pascal’s entire email inbox was leaked online as part of the massive Sony hack.
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