Lionsgate is having Michael Gracey direct the film, which would be his second directorial credit. Gracey has worked as a visual effects supervisor on The Magician and Ned Kelly. 2017's The Greatest Showman will be his first directorial credit.
Despite a new director, Masashi Kishimoto stated that he will personally be involved with the production of Naruto. Maybe this could lead to good things?
However, fans are not having anything to with the announcement. Given the bad track record for live-action adaptations both Japanese and Hollywood, you can't really blame the negativity.