I hear Marvel is fine with this move to Legendary Entertainment. Tim Connors has been there from the beginning but “it was time for him to move on,” an insider tells me. I’ve just learned exclusively that taking his place at Marvel Studios will be David Galluzzi whow as recently promoted to chief counsel and now will be assuming Connors’ business affairs role, too. And the remainder of Connors’ duties will be assumed by Rob Steffens who is EVP Of Operations And Planning for Marvel Entertainment and is General Manager of Operations And Finance for Marvel Studios. This move bolsters Steffens’ role at Disney where I hear he’s well-liked and being groomed for bigger things. None of this is in the Legendary press release below:

Burbank, CA, February 9, 2012 – Legendary Entertainment has appointed Tim Connors to the role of Chief Operating Officer for the company, it was announced today by Legendary’s Chairman and CEO, Thomas Tull. Connors, who arrives at Legendary from Marvel, will report to Tull and manage day-to-day operations for the company including business affairs working closely with President and Chief Creative Officer, Jon Jashni.

“We are pleased to welcome Tim to the Legendary family,” said Tull. “He brings a great wealth of experience and business acumen to our company and we look forward to reaping the benefits of his expertise.”

Connors stated: “I’m proud to have been a part of what the Marvel team has accomplished over the past 6 years and honored to be joining Legendary at a time when the company is on the verge of significant growth. They are spearheading bold new initiatives which I am excited to help them accomplish.”

Connors has held the title of COO for Marvel Studios since 2008 and Executive Vice President of Business Affairs and Operations since 2006. While at Marvel, he oversaw all business transactions for the studio including the production and distribution of IRON MAN, THE INCREDIBLE HULK, IRON MAN 2, THOR, CAPTAIN AMERICA: THE FIRST AVENGER, and MARVEL’S THE AVENGERS.

Before his tenure with Marvel Studios, Connors worked in Business Affairs at DreamWorks SKG, was head of business affairs for Artists Production Group and Artists Management Group, and served as a business development consultant for the Tokyo-based media company, Kadokawa Group Holdings. Connors began his career as a corporate/tax lawyer at Munger, Tolles & Olson until moving to the film and television department of the boutique talent firm Gang, Tyre, Ramer & Brown.