It's been two months since the massive leak of data spilled out of Sony Pictures Entertainment, revealing confidential emails, financial records and a list of upcoming projects.
Pascal's resignation puts all her power under Michael Lynton, Sony Pictures' chief executive. According to the New York Times, Pascal's resignation has been in the works for quite some time.
Lynton shuffled personnel through the ranks, essentially giving him the necessary staff that he hoped would help increase profits for the studio. Sony Pictures was already losing money with its operating income dropping from $200 million to only $20 million in a year over year comparison, and the hack by the Guardians of Peace seemed to be the last straw in Pascal's career. Recently, the company said it would be investing $15 million to investigate the hack as well as bolster their security measures.
Although Pascal is stepping down from the leadership, she is still working with the studio on a new project. "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," she said. The company has yet to announce a successor for Pascal's position.
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