Los Angeles:  Henry Cavill, who has earned popularity by playing the role of Superman, has confirmed he will no longer play the superhero character.

He confirmed the development on Instagram.

“My time to wear the cape has passed,” he said in a statement as released on Instagram, moments after James Gunn, who has become the new co-CEO of DC Studios along with Peter Safran.

“I have just had a meeting with James Gunn and Peter Safran and it's sad news, everyone. I will, after all, not be returning as Superman," he said.

James Gunn, meanwhile, spoke on the new Superman movie and said: " Peter & I have a DC slate ready to go, which we couldn’t be more over-the-moon about; we’ll be able to share some exciting information about our first projects at the beginning of the new year. "

"Among those on the slate is Superman. In the initial stages, our story will be focusing on an earlier part of Superman's life, so the character will not be played by Henry Cavill," he said.

He said he had a 'great meeting' with the actor.

He said he discussed possible projects they might work on in the future.