As a movie critic with a background in finance and accounting, I’m always intrigued by the business side of Hollywood. And I must admit, I’m impressed by the latest appointment at Sony Pictures Entertainment. Drew Shearer, who is taking over as CFO from Philip Rowley, brings an impressive resume to the table.
Drew Shearer has been promoted by Sony Pictures Entertainment to become their new CFO, replacing Philip Rowley who is set to retire after serving for eight years in this position.
Starting October 1st, Shearer will assume the role that he has held at Sony for nearly three decades. He initially joined the company in 1996 as the internal audit director for Sony Corporation of America. Over the years, his responsibilities expanded to include serving as finance director of Sony Pictures Television Studios and divisional CFO of Sony Pictures Television’s international businesses. In 2014, he was promoted to executive vice president and group divisional CFO.
Before joining Sony, Shearer was a part of Deloitte & Touche LLC’s Audit team in Detroit, Michigan.
In 2016, Rowley became the senior executive vice president and CFO at SPE. Throughout his time there, he introduced advanced forecasting and budgeting techniques, established mid-range planning models, and initiated data collaborations across departments. These changes led to a substantial reduction in corporate expenses for Sony.
Prior to his current role, Rowley held several prominent positions. He served as the CEO of AOL Europe, the group finance director at Kingfisher plc in the UK, and the CFO of EMI Music Worldwide.
“Tony Vinciquerra, chairman and CEO of Sony Pictures Entertainment, praised Drew’s deep understanding of our business and his financial expertise that significantly boosted our company’s performance. We are excited to have him lead us during an exciting time in our industry. I would also like to acknowledge Philip’s significant contributions over the last eight years. He brought great value to our company, led major transformations amidst industry changes, and prepared us for continued success.”
Rowley expressed his gratitude: “I’ve enjoyed every moment at Sony Pictures, collaborating with such gifted and dedicated individuals. These past few years have brought great achievements for the company, and I’m grateful for being a valuable contributor.”
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2024-07-23 00:47