From www.filmtracks.com :

Renowned up-and-coming composer James L. Venable, fresh off being hired for such high profile blockbusters as Harry Potter and the Goblet of Fire and X3, can now add another shining gem to his future resume as he has been officially signed to replace Danny Elfman on Spider-Man 3.

Said Spider-Man 3 director Sam Raimi, “I’m confident James will be Venable to put his own webspin on the world of Spidey.”
Added producer Laura Ziskin : “I have no doubt James can take the reigns from Elfman. After all, their hair colors are similar