There are no longer any strings holding director Sam Mendes to the job of making Disney's planned new live-action take on the Pinocchio story. According to The Tracking Board, he has departed the project.
Mendes was announced as in early talks to take on the film back in May of this year – word was, he switched focus from a new James And The Giant Peach to turn the puppet's way, but the talks have not blossomed into a solid commitment. Given the Mouse House's forward momentum on its various live-action fairy tales, we'd imagine it'll work quickly to lock down a replacement.
Pinocchio – which Disney brought to life in acclaimed animated form in 1940, drawing from Carlo Collodi's 1883 novel The Adventures Of Pinocchio – is a subject several filmmakers have been targeting in the last few years. Guillermo del Toro was among them, though he recently admitted that his version was effectively dead.
As for Mendes, he has plenty of other projects to move on to, though of course this move will start the speculation that he's been lured back by a certain secret agent. Wouldn't bet on it just yet...