Percy Jackson And The Olympians: The Lightning Thief was released last year and did so well that Fox has optioned for a sequel staring Logan Lerman again as the title character. According to The LA Times director Chris Columbus will only have a producing role in the film and will hand over director responsibilities to Thor Freudenthal.
According to a source familiar with the production who asked not to be identified because of the sensitive nature of discussions, studio Fox 2000 has exercised the option on star Logan Lerman, essentially meaning that the young actor is locked down to reprise his role as Percy Jackson in a new picture. The company has also hired a director in Thor Freudenthal, best known for helming the similarly boy-oriented "Diary of a Wimpy Kid;" he'll pick up where "Lightning Thief" director Chris Columbus left off. (Columbus will only produce this new movie.)
http://www.comicbookmovie.com/fansites/JakeLester/news/?a=39638
I thought the first movie was okay, looking forward to seeing the sequel. Glad they are going to get a new director, never been much of a fan of Columbus.
Hopefully they'll pull a Twilight/Harry Potter and get a new director for each movie if they are going to make the rest of the series. I always thought that was a neat idea, getting to see how different directors do a book from the same series.