By Daniel Hunter

Amy Pascal has stepped down as co-chair of Sony Entertainment Pictures after the cyber attack which revealed private emails.

"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," said Ms Pascal in a statement.

Ms Pascal will launch her own production company which will launch in May 2015. It will be funded by the studio for at least four years and will retain distribution rights.

In one of the leaked emails, she spoke about President Obama's viewing habits in a derogatory manner. At the time, Ms Pascal said: "The content of my emails to Scott were insensitive and inappropriate but are not an accurate reflection of who I am.

"Although this was a private communication that was stolen, I accept full responsibility for what I wrote and apologize to everyone who was offended."

Sony have not named a successor, instead leaving Michael Lynton as sole chair for now, at least.

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