Wood will play Winslet's daughter, Veda Pierce, and Pearce will portray Monty Beragon, Mildred's love interest. Wood's casting comes just days after she dropped out of the Broadway musical Spider-Man: Turn Off the Dark.
The story, set during the Great Depression in Los Angeles, documents the struggle of a single mother's fight for her daughter's love.
Mildred Pierce, based on the 1941 novel of the same name but made famous by Joan Crawford's 1945 film adaptation, will also star Oscar nominee Melissa Leo and FlashForward's Brian F. O'Byrne. Todd Haynes (Far From Heaven) co-wrote the screenplay and will executive-produce and direct.
Will you watch Mildred Pierce?