Guillermo del Toro's perfect job directing The Hobbit ? Not so perfect, as it turns out. In fact, he's quit the gig.

"In light of ongoing delays in the setting of a start date for filming The Hobbit , I am faced with the hardest decision of my life," del Toro said in a statement on The OneRing.net . "After nearly two years of living, breathing and designing a world as rich as Tolkien's Middle-earth, I must, with great regret, take leave from helming these wonderful pictures."While the filmmaker did note he will continue to co-write the screenplays (the J.R.R Tolkien novel is to be adapted into two feature films) with Peter Jackson, Fran Walsh, and Philippa Boyens, any chance of him returning to the project after rights co-owner MGM/UA finds itself a buyer (the studio put itself up for sale back in November 2009) is all but dead."I wish the production nothing but the very best of luck and I will be first in line to see the finished product," added del Toro. "I remain an ally to it and its makers, present and future, and fully support a smooth transition to a new director."Wow. We'll update this story as soon as we have more details.