Jon Favreau has left Marvel movie bosses desperately searching for a new director to take charge of "Iron Man 3" after turning down an offer to direct the project.
Favreau helped to create a hugely successful film franchise, starring Robert Downey, Jr. as the comic book superhero, after directing the first two installments and bringing in profits of over $1 billion.
No explanation has been given for the moviemaker's decision to walk away from a planned third movie, although Favreau recently signed on to bring Disney ride the Magic Kingdom to life on the big screen.
However, he will still act as a producer on upcoming The Avengers film, which will see superheroes Iron Man, Thor, Captain America, the Incredible Hulk and Hawkeye come together in one big blockbuster.
Watch "A Few Guesses About Robert Downey Jr.'s Latest Marvel"Big Announcement""