Shane Black to helm Iron Man 3 February 10, 2011 Black to reteam with Downey Jr for Iron Man 3 Lethal Weapon creator Shane Black is reportedly in talks to direct Iron Man 3. Black has reportedly pitched his idea to the studio for the latest superhero sequel, reports The Hollywood Reporter. Black previously worked with Iron Man’s Robert Downey Jr on Kiss Kiss Bang Bang. Jon Favreau, who directed Iron Man and its 2010 sequel, has departed the franchise to make Magic Kingdom. Disney plans to release Iron Man 3 on May 3, 2013.