Marvel Studios appoints new co-president

Louis D'Esposito to work alongside Kevin Feige

NEW YORK -- Marvel Studios has promoted Louis D'Esposito to the role of co-president at the unit of Marvel Entertainment.

He will work alongside Kevin Feige to oversee the studio's production schedule and reports to Marvel Entertainment CEO Ike Perlmutter.

D'Esposito was president of physical production of the studio and oversaw the budget and timeline of all Marvel Studios features.

Feige and D'Esposito will both have dotted line reporting to Alan Fine, executive vp, office of the chief executive and chairman of Marvel Studios' Creative Committee.

Feige called D'Esposito an "incredible friend and collaborator."