Producer Ian Bryce, who briefly worked at ILM in the late 80s as a Production Manager, has just confirmed that Scott Farrar will supervise the work for Michael Bay's Transformers movie, slated for a 2007 release.
Scott Farrar was most recently nominated for the work in The Chronicles of Narnia: The Lion, the Witch and the Wardrobe. He was also announced not long ago to be supervising Lee Tamahori's Next (no word yet on the status of that). You can read Ian Bryce's post here:
Many thanks to Shane, for actually asking Ian Bryce for the info!!!