The actor's long, intense and often-sporadic shooting schedule was the reason given for the actor's departure. Though, it has long been rumored that the actor was going to bail on the project anyway.
Here is the official statement from Universal Pictures.
"The filmmakers of Fifty Shades of Grey and Charlie Hunnam have agreed to find another male lead given Hunnam's immersive TV schedule which is not allowing him time to adequately prepare for the role of Christian Grey."
Based on the best selling novel by E.L. James, the film adaptation is directed by Sam Taylor-Johnson (Nowhere Boy). The story follows the relationship of 27-year-old billionaire Christian Grey and college student Anastasia Steele.
Universal Pictures is now looking for Charlie Hunnam's replacement.