Michael Helfant was announced this week as the new President and Chief Operating Officer of the Marvel Entertainment's Marvel Studios division based in Beverly Hills.

Helfant. 48, has over 22 years of entertainment industry experience, most recently serving as COO of Beacon Pictures, the company behind Open Range, Raising Helen and Ladder 49.

“I look forward to working with Michael and am confident that his experience, knowledge and industry relationships will prove instrumental to the success of our entertainment production activities, while enabling me and my creative team to focus on what we do best," Avi Arad, Chairman and CEO of Marvel Studios, said in a press release.

“I am very excited to join Avi and the rest of the Marvel team as they expand their entertainment operations. Marvel is a great company and a powerful brand, with unique assets, tremendous creativity, and global reach. Going forward, the core objective remains clear: continue to develop and create great entertainment and profitable, enduring franchises from the Marvel Universe," Helfant said in the release.