Jon Favereau will not be directing the third installment of Iron Man. He recently told MTV News that he did not agree with the direction that Marvel Studios and Disney wanted the movie to go.
The studio wants Iron Man 3 to tie in with its other Marvel titles like Thor, The Avengers and The Incredible Hulk. That means that these stories will lay the groundwork for all the super comic hero stories that will follow. This is a lot of ground to cover for any director.
Favereau told MTV that that the production company's concepts of the film version of the Marvel Universe were not very clear to him, saying This whole world… I have no idea what it is. I don't think they do either.
Favreau confirmed this news on Twitter as well (@Jon_Favreau) saying, It's true, I'm directing Magic Kingdom, not Iron Man 3. I've had a great run with Marvel and wish them the best.
Another factor complicating the matter is that the actor, Robert Downey Jr has directorial approval rights. It is also felt that with Favereau is in too much demand as he is also helming the sci-fi western, Cowboys and Aliens, and his price has gone up, which Marvel is not ready to accommodate.
With the release date already set at May 3, 2013, production has to start by early 2012. The studio has to zero in on director soon, if they want to meet their release date. The chosen one will have to handle the charismatic Robert Downey Jr, the lynchpin of the film, an evergrowing ensemble star cast as well as handle a story that starts with a leg in three other super hero stories. A tall task indeed.