Mike De Luca and Dana Brunetti will produce the upcoming film based on EL James's erotic novel, which follows a young college student as she embarks on a BDSM relationship with an older businessman.
"I am thrilled that Mike has joined Team Fifty," James said. "He brings a passion for and in-depth understanding of the characters and story, and a wealth of experience in making quality films."
"At its core, Fifty Shades of Grey is a complex love story, requiring a delicate and sophisticated hand to bring it to the big screen," added Universal Pictures Co-Chairman Donna Langley.
"Mike and Dana's credits more than exemplify what we need in creative partners and we're glad to have them as part of our team," Langley continued.
Meanwhile, Focus Features' Chief Executive Officer James Schamus said: "Michael De Luca is a dream producer, whose combination of vision, taste and fearlessness is the perfect match for Fifty Shades of Grey."
De Luca and Brunetti previously produced The Social Network together. De Luca has also worked on American History X and Moneyball, while Brunetti has produced 21 and Safe.
"Dana and I are both grateful and honoured to be invited to join this team," De Luca revealed.
"We deeply respect and admire the kinds of films Donna, James and Jeb have been responsible for and are very excited to be joining Erika in a collaboration to bring her vision of this once in a lifetime, provocative and resonant love story to the screen."