As it turns out, we weren't too far off, with director Marc Webb confirming today that the actor is actually playing Spencer Smythe's son, Alistair Smythe, who eventually takes over for his father, becoming Ultimate Spider-Slayer.
Check out the director's tweet, then read on for more information about Alistair Smythe.
While B.J. Novak wouldn't confirm who he was playing last month, he revealed in an interview that his character works at OsCorp, and that he is playing a character from the original comic books. He also added that he only appears in a couple of scenes in the sequel.
In the Marvel comic books, Alistair Smythe takes over the Spider-Slayer initiative to get revenge against Spider-Man and The Daily Bugle editor J. Jonah Jameson for the death of his father Spencer. At one point in the comics, Alistair is confined to a wheelchair before turning himself into the Ultimate Spider-Slayer. It hasn't been confirmed whether or not Spencer Smythe will be featured in The Amazing Spider-Man 2, and since B.J. Novak already revealed he is only in a few scenes of this movie, it's possible that he will be merely introduced in the next installment, and that he will be brought back for The Amazing Spider-Man 3 or The Amazing Spider-Man 4 as the Ultimate Spider-Slayer.
The Amazing Spider-Man 2 comes to theaters May 2nd, 2014 and stars Martin Sheen, Emma Stone, Andrew Garfield, Dane DeHaan, Stan Lee, Sarah Gadon, Felicity Jones, Jamie Foxx. The film is directed by Marc Webb.