Thursday, June 01, 2006
Avi Arad, the Isreali-born entertainment exec who shifted from Toy Biz to Marvel in the 90's, and who helped save the company after Ron Perelman ran it into the ground, has resigned his position as as chairman and CEO of the company's film studio and chief creative officer of the parent company. He is reportedly starting his own production company, which will produce various Marvel film projects (such as Spider-Man 3). This might be seen as just a move away from the duties of a corporate executive and into a more creative position -- except that Arad simultaneously sold $60 million worth of Marvel stock. According to IMDB.com, some analysts think Arad is leery of Marvel's plan to produce its own films, which entailed the corporation taking on a half-billion in debt. We'll see.