EXCLUSIVE: David Kassler has been named the new CEO of Deluxe Entertainment, replacing longtime CEO Cyril Drabinsky, who has been elevated to vice chairman of the giant media services company owned by billionaire Ronald Perelman.

David Kassler“David will join Cyril Drabinsky to continue the development of Deluxe as the world’s preeminent digital asset manager and distributor of digital content,” said Deluxe spokesperson Chris Taylor. Drabinsky had been the company’s CEO since 2006.

Kassler, who will assume his new position in two weeks, had been the CEO of Phones 4u, one of the UK’s leading technology stores. Before that, he was the chief executive of EMI Music until its takeover by the Universal Music Group in 2012.

Deluxe has been one of the industry’s leading postproduction film facilities for nearly a century, making “Color by Deluxe” familiar to every moviegoer. The company went completely digital in recent years and now provides a wide range of production, postproduction, distribution and asset management services for films, TV shows and commercials. It will celebrate the 100th anniversary of its founding next year.

Recent films that have received the Deluxe treatment include American Hustle, Blue Jasmine, Avatar, The Imitation Game, Dawn Of The Planet Of The Apes, Foxcatcher, X-Men: Days Of Future Past, Hercules and Teenage Mutant Ninja Turtles.

Deluxe chairman Perelman, the largest shareholder of Revlon, is ranked by Forbes as the 32nd richest person in America with a net worth of $14.5 billion.