Sony Pictures co-chairman Amy Pascal has announced her plans to step down from her position as co-chairman following the Sony hack which revealed embarrassing private emails.

The company’s network was subjected to one of the worst cyber attacks in history, reportedly in an attempt to stop the release of the movie ‘The Interview’ which made fun of North Korea’s Dictator Kim Jong-un.

The exposed emails laid bare some private communication between Pascal and producer Scott Rudin, which reportedly made fun of Angelina Jolie and passed racial comments on President Obama.

After the revelation, Pascal apologised for the statement made in the email saying: "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 apologise to everyone who was offended."

Reuters reported Sony Pictures chief executive Michael Lynton as saying that the leaked emails did not trigger the move made by Pascal not to renew her contract in March 2015.

The company has not revealed any information about Pascal’s replacement, but sources familiar with the matter speculate that it could be Sony’s Columbia Pictures president Michael De Luca.

Pascal has been working with the studio for nearly two decades.

BBC reported Pascal as saying: "I have spent almost my entire professional life at Sony Pictures and I am energised to be starting this new chapter based at the company I call home."