Cochair Amy Pascal to leave Sony after studio's hacking

Amid the fallout of the Sony hacking crisis, Amy Pascal will step down from her post as cochairman 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. (Sony Entertainment CEO) 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 cyberattacks 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 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," according to The Wrap.

Sony Entertainment CEO Michael Lynton sent an email Thursday morning to staffers announcing Pascal's exit, via The Hollywood Reporter:

I am happy to say that Amy's decision is not the end of her relationship with the studio but the start of a new and exciting chapter in her extraordinary career that promises to be mutually beneficial. She can refocus her career on her first great love — filmmaking — and SPE can continue its association with an extremely talented and valued associate. Her decision has the full support of (Sony Corp. president and CEO) Kazuo Hirai.

The Hollywood Reporter 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 $4 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 ahead of the release of the Seth Rogen and James Franco comedy "The Interview."

Pascal's private emails about President Barack Obama and Angelina Jolie and a brutal exchange with producer Scott Rudin were all made public, among many other not-so-flattering items.

Obama addressed the Sony hack during a December news conference, saying he thought the studio made a mistake by canceling the theatrical release of "The Interview."

"I'm sympathetic to the concerns they faced; having said all that, I think they made a mistake," Obama said. "I wish [Sony] had spoken to me first. I would have told them do not get into a pattern where you're intimidated by these kinds of criminal attacks."

Obama said to avoid setting a precedent, other companies should not cave to pressure from hackers as Sony did.

The FBI has said it has enough evidence to link the Sony hacks to North Korea. In short, the FBI said the methods and tools used to hack Sony were similar to those used previously by North Korea. However, the FBI's statement wasn't too detailed in an effort to protect its "sensitive sources."

"They caused a lot of damage, and we will respond," Obama told reporters at the news conference.

The hacking group Guardians of Peace sent a final email to Sony executives after Obama's remarks saying no more attacks would happen as long as Sony never released "The Interview" in any form. 

When "The Interview"was released via various streaming services, it raked in more than $31 million worldwide.

"The Interview" is now available for rental and purchase through YouTube, Google Play, Xbox Live, PlayStation Network, Amazon Instant Video, and more. The film has also been pirated several million times.

SEE ALSO: 2 Sony Execs' Entire Email Boxes Got Leaked By Hackers And Now All Hell Is Breaking Loose

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