The Foxes travel to Hillsborough on Tuesday night to face the Owls who sacked manager Dave Jones - a friend of Pearson's - at the weekend.
First-team coach Stuart Gray will be in charge of the Sky Bet Championship's joint-bottom club and Pearson thinks that could make Wednesday potentially more dangerous opponents and harder to plan for.
"Dave Jones is a friend of mine. It is never easy to see people you know lose their job," said Pearson, whose team went top of the table on Saturday with a 3-0 home win over Millwall.
"He has had some great times at Sheffield Wednesday but for whatever reason it just hasn't happened for him this season. I am disappointed for him but that is the game we work in.
"But we have to concentrate on ourselves. You can get side-tracked by what happens elsewhere. We have to keep focused on our own performance and go there with the same intention that we would have had before. It doesn't change our preparation.
"It could potentially be a dangerous time to play them, though. That would be a relevant argument. But our preparation has to remain the same.
"We go there with the intention of winning the game. Anything else that is going on shouldn't affect us, we have to focus on ourselves and not get caught up in any other stories that are going on."
Pearson, a former captain of the Owls, added: "The only complication is that whoever is in charge for this game will have different ideas on how they shape up.
"That could throw up one or two variants in terms of how they line up and personnel, but it will be the same squad of players we are up against. We have to make sure whatever problems they are capable of causing us, we can deal with them.
"More importantly, we have to produce a level of performance which is up there with what we have produced so far."