Sony Pictures Entertainment has elevated Drew Shearer to the role of chief financial officer with current CFO Philip Rowley set to step down after eight years. Shearer, who will take over Oct. 1, has been with Sony for nearly 30 years, joining the studio in 1996 as director of internal audit for Sony Corporation of America and has since held roles of finance director of Sony Pictures Television Studios and divisional CFO of Sony Pictures Television’s global businesses before being promoted in 2014 to executive vice president and group divisional CFO.
Prior to Sony, Shearer worked for the Audit practice of Deloitte & Touche LLC in Detroit, Michigan. Rowley joined SPE as senior executive vice president and CFO in 2016. During his tenure, Rowley “implemented new methodologies for forecasting and budgeting, introduced new mid-range planning models, and created cross-company data initiatives, significantly cutting run-rates of corporate costs,” per Sony.
Previously, Rowley was CEO of AOL Europe, group finance director at UK retail conglomerate, Kingfisher plc, and CFO of EMI Music Worldwide. “Drew knows our business inside and out and his financial insights and efficiencies have driven strong results for our company. We look forward to his astute leadership at a dynamic time for our industry,” Sony Pictures Entertainment chairman and CEO Tony Vinciquerra said.
“I’d also like to thank Philip for his remarkable work at the company over the past eight years. He’s added tremendous value and driven significant corporate transformation for the company while navigating an ever-evolving industry landscape. He has positioned the studio well for continued strength and growth.
” Rowley added: “I have had a wonderful time here at Sony Pictures, having had the great pleasure of working with so many talented and committed people. The last few years have been very successful for this company, and I feel very privileged to have been a part of that.”.
