Marvel Studios appoints co-president

Marvel has appointed Louis D'Esposito as co-president of its Hollywood subsidiary Marvel Studios.

The exec previously worked as head of physical production with the studio, overseeing the budget and development timeline of blockbuster films such as Iron Man. In his new role, D'Esposito will work alongside Marvel head Kevin Feige.

"I am delighted to have Louis join me as my co-president in the next chapter of Marvel Studios," said Feige. "He has proven to be an incredible friend and collaborator, and his expertise within the film industry steering the budgetary and operational demands of moviemaking is instrumental in taking our characters from the pages of comic books to the big screen."

D'Esposito added: "I am honoured to lead Marvel Studios alongside Kevin and further our commitment to producing high-quality films. Together with the incredible executive team here at Marvel, I look forward to building upon our success by creating entertaining films for our worldwide audience."

In addition to being credited as executive producer on last year's Iron Man, D'Esposito has also worked on The Pursuit Of Happyness, starring Will Smith, and Zarutha: A Space Adventure.

Marvel Studios is currently prepping Iron Man 2 for release on May 7 next year.