A new day has come to pass. Tony Stark A.K.A. Iron Man has been appointed the head of SHIELD, even as his old associates in the New Avengers have gone underground. Realizing that it is important to have a new team of current team of heroes calling themselves Avengers, he reforms the team around Ms. Marvel, who he appoints as the new team's leader.
After the Secret Invasion a new team is formed around the Scarlet Witch.