The Godzilla sequel just lost its director. Gareth Edwards has decided that going from Godzilla (2014) to Rogue One: A Star Wars Story (2016) to Godzilla 2 (2019) was simply too much for him to handle. That's perfectly understandable as big tentpole films such as these means Edwards wouldn't have had a moment of down time for roughly 5 years. As such, Edwards reps have stated that the director wants to tackle smaller projects post Rogue One. WB was reportedly understandable, not wanting a burned out director handling one of their blockbusters, and the split was amicable.
Godzilla 2 is currently slated for release on March 22, 2019. The first film grossed $529 million worldwide from a production budget of $160 million. Legendary and WB are also re-teaming for a King Kong film, Kong: Skull Island, with plans for a Godzilla vs King Kong film to be released in 2020.
Max Borenstein, who wrote the script for the first film, has already completed the script for the sequel. WB is reportedly moving forward with Borenstein's script, regardless of what director they bring in. Mothra, King Ghidorah, and Rodan are rumored to feature in the sequel.
Japan has its own Godzilla movie coming out, Godzilla Resurrgence, set for release on July 29, 2016. It will mark Toho's first Godzilla film since 2004's Godzilla: Final Wars. Hideaki Anno and Shinji Higuchi are co-directing from a script written by Anno.