Jon Favreau explains 'Iron Man' exit

Jon Favreau has explained why he walked away from the Iron Man franchise.

The filmmaker, who directed both of the Robert Downey Jr. superhero films, this week informed Marvel that he won't be returning to helm a third instalment in the comic book saga. He will instead work on family movie Magic Kingdom for Disney.

Speaking to the Los Angeles Times about his departure, Favreau admitted that he was looking for a new project that "lights a fire" and "isn't loaded with built-in expectations".

"Marvel and I both came of age together,” Favreau said of his experience on Iron Man. “The years that we shared were a pivotal experience. Kevin [Feige, Marvel Studios president] has a firm grasp on the many franchises and how they all interweave and I am happy that I had the opportunity to establish the world that these characters can now play in.

"Iron Man has given me tremendous opportunities and Kevin and I are enjoying a lot of momentum in our careers thanks to the Iron Man films. I look forward to seeing what others can do playing in the same world."

Iron Man 3 is due to open in cinemas on May 13, 2013.