Amy Pascal has stepped down as co-chair of Sony’s movie studio following the cyber attack that revealed the private emails of from her and other Sony staffers – to agents and stars. She will start a production company that will launch in May 2015.
Pascal has already apologised for certain revelations and said: “I have spent almost my entire professional life at Sony Pictures and I am energised to be starting this new chapter based at the company I call home,” Pascal commented. She added that her transition to a production role had been discussed “for some time”.
As part of the agreement, Sony will fund her production company for at least the next four years, and it will retain distribution rights.
Sony did not immediately name a successor to Pascal, leaving Michael Lynton as the sole head of one of Hollywood’s biggest production studios.