The new president of the division, Ed Catmull, and the new vice-president, John Lasseter, have made the decision. They told their employees through a poster in the office. According to the poster, Catmull and Lasseter "announced to Feature Animation employees [Tuesday] that the ‘Toy Story 3’ production will end effectively [Tuesday]. They said that sequels should only be made if there is a really great story that demands it, and should be the domain of those who created the original film."
Bradley Raymond was directing Toy Story 3, which was to be released in 2008. In the film, Buzz Lightyear would have returned to Taiwan after disfunctioning.