MUMBAI: Columbia Pictures president Matt Tolmach has stepped down and has launched a new production company. He will produce the next instalment of Spider-Man.

With Tolmch‘s departure, Doug Belgrad will be the sole president of Columbia Pictures and will take on additional divisional responsibilities. Tolmach and Belgrad, who have enjoyed one of the longest and most successful executive partnerships in recent motion picture history, have shared the role of president of Columbia Pictures since 2008. 

Sony Pictures Entertainment co-chairman Amy Pascal said, "We tried to convince Tolmach to stay in his current job but we understand that the time has come and I completely support his decision. Spider-Man has been a big part of his life for the last ten years and this is the perfect segue. We know he is going to be a killer producer for us. It is also the right moment for Doug to step into a greater leadership position within the company."