The unprecedented move, in which top director will assume top executive post, marks the end of a months-long search by Warner Bros. Discovery CEO David Zaslav to replace DC Films boss Walter Hamada, who departed the studio last week.

That search had Hollywood guessing and playing executive bingo for who will get one of the most coveted jobs in town.

Gunn will focus on the creative side, while Safran will focus on the business and production side of things. Both are expected to continue to direct and produce projects, respectively. They will report directly to Zaslav, and work closely with Warners film bosses De Luca and Pamela Abdy. Sources say the deal runs four years and Gunn will be exclusive to DC. The goal is for them not just to be producers, but to truly function as execuctives even as Gunn will occasionally hone a movie.

Unlike Marvel Studios, DC has multiple films set in separate creative universes, and according to sources, Joker filmmaker Todd Phillips’ work on the upcoming sequel, which goes into production later this year, will not fall under Gunn and Safran’s purview and instead will be overseen by De Luca and Abdy. Matt Reeves, who worked under Hamada, has a budding universe based on The Batman movie. It is unclear under whose purview Reeves’ future projects would fall, but everything else moving forward would be under Gunn and Safran.

“DC has among the most entertaining, powerful, and iconic characters in the world and I am thrilled to have the singular and complementary talents of James and Peter joining our world-class team and overseeing the creative direction of the storied DC Universe,” said Zaslav in a statement. “Their decades of experience in filmmaking, close ties to the creative community, and proven track record thrilling superhero fans around the globe make them uniquely qualified to develop a long-term strategy across film, TV, and animation, and take this iconic franchise to the next level of creative storytelling.”

Safran came up as a manager, where Gunn was among his clients, and is fully enmeshed in the world of DC as producer of the $1 billion grossing Aquaman and its upcoming sequel, as well as Squad, Peacemaker and Shazam! and it’s sequel. His relationship with Warners extends back ten years and includes the $2 billion Conjuring horror franchise. The Safran Company recently re-upped its production deal with Warners.

Gunn and Safran will work with top execs at WBD, including TV boss Channing Dungey; HBO and HBO Max’s Casey Bloys; US Networks Group chair and chief content officer Kathleen Finch; consumer products chief Pam Lifford; and Warner Interactive Entertainment’s David Haddad. DC Studios will share resources across the company.

“We’re honored to be the stewards of these DC characters we’ve loved since we were children,” Gunn and Safran said in a statement. “We look forward to collaborating with the most talented writers, directors, and actors in the world to create an integrated, multilayered universe that still allows for the individual expression of the artists involved. Our commitment to Superman, Batman, Wonder Woman, Aquaman, Harley Quinn, and the rest of the DC stable of characters is only equaled by our commitment to the wonder of human possibility these characters represent. We’re excited to invigorate the theatrical experience around the world as we tell some of the biggest, most beautiful, and grandest stories ever told.”

DC released Black Adam over the weekend, which featured Superman actor Henry Cavill’s return to the DC universe, and next up has Shazam! Fury of the Gods out in March.

As for Gunn’s future at Marvel, there has been talk that he could continue on after the conclusion of his Guardians of the Galaxy trilogy.  However, today’s news seems to have closed the door on Gunn’s chapter in the MCU.

The hiring is effective Nov. 1, and comes as De Luca and Abdy have been making creative decisions and overseeing post-production on The Flash to Aquaman and The Lost Kingdom, since taking over their posts in early July.

“We could not be more excited to have James Gunn and Peter Safran join the team and assume the leadership of the DC Universe,” De Luca and Abdy said in a statement. “James is a brilliant filmmaker and storyteller and Peter is a tremendously successful and prolific producer and to have them both committing to work together to forge this new era for DC is a literal dream come true. We all share a very similar sensibility and passion for this universe and the stars couldn’t have aligned any better. We can’t wait to get started, dig in, and collaborate with these unmatched creative minds.”