The Rock's G.I. JOE cameo is Shipwrecked!
Stephen Sommers couldn't fit the actor into the final shoot.
It ain't happening, The Rock won't be in G.I. Joe. The actor and Paramount did have an early agreement in place which stated that he would fly in to say a couple of lines for a cameo - much like the Samuel L. Jackson scene at the end of Iron Man - but it didn't work out when Stephen Sommers came to the conclusion that they already had to many characters and plot lines to deal with.
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Latino Review say we can be assured that if a sequel does get made, The Rock will probably be in it as the comedic Navy Seals character.