Quvenzhane Wallis has been cast as the adorable titular orphan in the contemporary film, while Jamie Foxx is to play the wealthy Oliver "Daddy" Warbucks character, who has been renamed Benjamin Stacks, and Cameron Diaz is on-board to play nasty orphanage manager Miss Hannigan.
Grace will be Stacks' assistant and a mother figure for Annie in the movie, which is being produced by Jay Z and Will Smith. It is set for release Christmas Day 2014, the entertainment industry trade newspaper said.
Byrne is best known for her work on TV's "Damages" and in the big-screen comedy "Bridesmaids."
Notable deaths of 2014 [PHOTOS]