In a conference call yesterday, MGM Chairman and Chief Executive Officer Gary Barber offered an update on the status of James Bond 24. Skyfall director Sam Mendes recently confirmed that he will not return to helm the follow-up, but an announcement in regards to who will replace him is apparently now on the way. "We are very excited about the franchise, we look forward to announcing a director soon," Barber told Reuters. "We are currently developing the screenplay and working with our partners. We look forward to developing the script soon and signing a director. We are hoping within the next 3 years it will be released." After Skyfall became the first movie in the 50 year old franchise to gross $1 billion at the worldwide box office, you would think that the studio would want to put the next one on the fast track, especially as Daniel Craig seemed to indicate during press for that movie that his time as 007 was nearing its end.