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Amy Pascal stepping down from Sony after hacking scandal

Sony Pictures' co-chairman Amy Pascal is stepping down from her role to start a new production company.

LA Times has confirmed that Pascal will be launching the new production company at the studio and will officially start her new role in the next month.

Pascal faced criticism in the industry for her remarks in a number of email exchanges with producer Scott Rudin that were made public after hackers uploaded thousands of employee correspondences.

The scandal forced many execs at the company to go on a diplomatic offensive to repair damaged ties while Sony spent millions on repairing its computer systems and helping staff secure stolen information.

Despite the initial setback that Pascal faced, she was widely supported for her work at the company, having joined Columbia Pictures back in 1988.

It is unclear who will be replacing Pascal or why she made the decision to step down and start a new production. It is likely that ongoing discussions about her contract renewal at Sony Pictures led to today's decision and that CEO Michael Lynton will take over in the short-term when she steps down officially in May.

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