Jon Favreau won’t return to direct ‘Iron Man 3’

The director announces his decision on Twitter

Director Jon Favreau has announced he will not be returning to direct Iron Man 3.

Favreau directed both 2008’s Iron Man and this year’s Iron Man 2, but rumours have circulated for some time about conflict between studio chiefs and the director at Marvel over disagreements about the director’s fee for shooting the third film.

The director, who also had a bit-part role in previous Iron Man movies, announced his decision not to direct the third instalment via Twitter, writing: “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.”

Iron Man 3 is scheduled for release in 2013, and the hunt for a new director is underway. Disney film The Magic Kingdom currently has no set release date.