This news contextualizes last week's report that the project's pre-visualization was shut down and most of the pre-production staff was laid off.  The studio is apparently undaunted, however, and Akira remains a high priority project.  Since the film is still on "the fast track", they will proceed to find a new director for the project, and do so quickly. 

In March, Steve Kloves (who adapted all but one entry in the Harry Potter franchise) was brought aboard to rewrite the screenplay.  Around the same time, the studio floated a shortlist of actors for the lead roles of Tetsuo and Kaneda.  Robert Pattinson, James McAvoy, and Andrew Garfield were listed as hopeful Tetsuos, while the potential Kanedas Chris Pine, Michael Fassbender, Justin Timberlake, Joaquin Phoenix, and Garrett Hedlund.

With the departure of co-financier Legendary Pictures, though, finding an established and globally recognizable actor became the priority.  Looking to lure a new co-financier and ensure international profitability for the very-expensive film, Brad Pitt was offered the role of Kaneda, but he declined.  Discussions with Reeves began a few weeks ago, but he also eventually declined.

Many fans of both the anime film and the manga series have raised objections to the casting of white actors to play characters who were Japanese in those original versions.  The live-action film would move the setting from futuristic Neo-Tokyo to New Manhattan, though obviously the leads will inexplicably retain their Japanese monikers.

According to Deadline, the studio will return to that initial shortlist to find their leads, though trying to find a new director should take priority for the time being.

Warner Bros is keen to keep Hughes in the fold, and will attempt to find a new project for him.  Hughes and his brother Allen Hughes co-directed the studio's The Book of Eli last year.  The sibling duo also directed From Hell, Menace II Society, Dead Presidents, and the documentary American Pimp.