Technically it'd be a new Bloodaxe, but I guess he could call himself the Executioner even if he's not Skurge. Something screwy's supposed to be going on with Skurge, though, if I recall my solicitations right. I think there's something about the Asgardians' memories of him being wrong or something...Maybe someone fixed the axe? A new executioner would be cool.
Is the guy in the front an updated Jack O'Lantern, maybe?