Executive Meddling: Allegedly, but if you have seen the movie it does seem like many scenes were trimmed or cut, and it is known that some scenes were re-shot after production wrapped up. There is an extended version that adds a few minutes, but still leaves out a lot according to at least one source.
One thing I feel needs mentioning: this is not Martin Campbell’s cut of the film, but the studio’s. I live in New Orleans where it was shot, I read the shooting script, all of which was painstakingly filmed with intense research, and all of that was left on the cutting room floor — a sort of combination of what happened to Daredevil and Watchmen, respectively — character development sacrificed for CG, scenes made irrelevant by removing their setup. The movie in the theater starts with an explanation of mythos that is made redundant by the more natural, scripted questions from Hal when he gets the ring. Ten minutes of childhood Hal, Carol, and Hector that sets up Hal’s first ring construct is reduced to an awkwardly placed flashback in the middle of another scene. The training with the ring is almost completely excised except for one minor scene. Most appallingly, the ending completely deletes the fact that Kilowog, Sinestro, and Toma-Re arrive at the end and help Hal defeat Parallax. Not to mention Parallax was supposed to be a 3rd act reveal after we spend the film worried about Hammond going evil, not the main villain for the entire film. I sincerely hope we get a director’s cut or at least all the deleted scenes on the video release.