Jon Favreau Won’t Helm Iron Man 3 (Will Happy Hogan the Chauffeur be OK?)

Director Jon Favreau has confirmed that he will no longer direct the third installment of Iron Man. The director has been regarded as one of the main drivers (no pun intended on his role as Tony Stark’s chauffeur in the series) that brought huge success to the first two Iron Man movies.

Favreau told Marvel Studios about his departure from Iron Man 3 early this week. Part of the reason, he says, is that he is unable to see a clear direction for the next Iron Man flick, which has been made more complicated with the coming of The Avengers movie.

But one thing’s for sure, we have not heard the last of Jon Favreau. As a matter of fact, he will executive produce The Avengers movie scheduled for release in 2012. He will also direct Magic Kingdom, Disney’s new adventure flick based on the popular Disney theme park. If at all, the director is definitely moving up the ladder, from Marvel Entertainment to Marvel’s parent company Disney. Hey, not bad for a guy who started his movie career playing bit roles in indie films.

Comic book fans are also excited about Favreau’s latest film Cowboys & Aliens, the big screen adaptation of the graphic novel of the same title created by Scott Mitchell Rosenberg and written by Fred Van Lente and Andrew Foley. The movie will hit theaters mid-2011.