Marvel Entertainment has extended the contract of Marvel Studios chairman David Maisel until 2010 and promoted Kevin Feige to president of the film studio.

The move follows the successful global launch last weekend of Iron Man, Marvel Studios' first project as an autonomous financing, development and production entity.

Paramount distributed the film for a fee, as it will on a panoply of Marvel features including the Iron Man sequel that is scheduled to open in 2010. All eyes now turn to Marvel's next release The Incredible Hulk, which will open through Universal on June 13.

Maisel joined Marvel in 2003 and was named chairman of Marvel Studios last year. He was responsible for the conception and execution of the company's new film production initiative and secured a $525m non-recourse loan facility to finance the strategy. He also serves as an executive producer on Iron Man and The Incredible Hulk.

Feige joined Marvel in 2000 and was named president of production in 2007. He produced Iron Man and The Incredible Hulk, which stars Edward Norton, Liv Tyler, Tim Roth and William Hurt and is directed by Louis Leterrier.

Feige is also producing Iron Man 2, Thor, The First Avenger: Captain America (working title), The Avengers and Ant-Man, and serves as executive producer on the upcoming Punisher: War Zone and X-Men Origins: Wolverine.

'In their respective roles, David and Kevin have led Marvel into a bold new era,' Marvel Entertainment chairman Morton Handel said. 'Their creativity, energy and experience have been instrumental to the spectacular success of our film production and financing strategy.'