I kinda saw this coming.
Jon Favreau will not be returning to the Marvel Universe for a third Iron Man film, Vulture reports.
The article suggests that the choice was made at the director's discretion and that he informed Marvel Studios of his decision this morning. Though Favreau's reasoning is purely speculatory at this stage, it is likely that the director simply wishes to pursue other creative ventures. With the upcoming Cowboys & Aliens hitting next summer and The Magic Kingdom in the early planning stages, Favreau should remain suitably busy for the time being.
SuperHeroHype is seeking official confirmation of the news and will bring you updates as soon as they become available.
They failed to make him happy....