Sony Pictures Entertainment Appoints Drew Shearer as New Chief Financial Officer, Philip Rowley to Step Down
Sony Pictures Entertainment has announced the promotion of Drew Shearer to the role of chief financial officer, with current CFO Philip Rowley stepping down after eight years of service. Shearer, who has been with Sony for nearly 30 years, will officially take over on October 1.
Shearer’s journey with Sony began in 1996 when he joined as the director of internal audit for Sony Corporation of America. Over the years, he has held various finance roles within the company, including finance director of Sony Pictures Television Studios and divisional CFO of Sony Pictures Television’s global businesses. In 2014, he was promoted to executive vice president and group divisional CFO.
Prior to his time at Sony, Shearer worked for the Audit practice of Deloitte & Touche LLC in Detroit, Michigan.
Rowley, who joined Sony Pictures Entertainment in 2016 as senior executive vice president and CFO, has been credited with implementing new forecasting and budgeting methodologies, introducing mid-range planning models, and spearheading cross-company data initiatives that have significantly reduced corporate costs.
In a statement, Sony Pictures Entertainment chairman and CEO Tony Vinciquerra expressed confidence in Shearer’s leadership abilities, stating, “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.”
Rowley also shared his gratitude for his time at Sony, saying, “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.”
The transition in leadership comes at a pivotal moment for Sony Pictures Entertainment, as the industry continues to evolve. With Shearer at the helm, the company looks towards continued strength and growth in the future.