MGM co-heads Gary Barber and Roger Birnbaum have appointed Ken Schapiro as the studio’s new COO.

Schapiro is co-founder and a managing principal of Qualia Capital, the private investment management company that had been in the mix to acquire the formerly ailing studio. He will report to Barber and Birnbaum.

“Ken’s background, experience and proven track record make him an undeniable asset to MGM,” Barber and Birnbaum said. “We believe his skills and energy will be integral in helping us build the new MGM.”

Prior to co-founding Qualia Capital in 2003, Schapiro served as president and COO of Artisan Entertainment and before that was evp at Morgan Creek Productions.