After slapping presenter Chris Rock on stage, Will Smith resigns from the Academy.

Will Smith announced in a statement that he has resigned from the Academy of Motion Pictures Arts and Sciences.

"I am resigning from membership in the Academy of  Motion Picture Arts & Sciences, and will accept-

- any further consequences the Board deems appropriate." Will Smith said in statement.

"Changes take time  and i am committed to doing the work to ensure that I never again allow to overtake reason." Smith concluded.

After the embarrassing episode at Sunday night's Oscars. The Academy announced..

Academy announced that it had initiated disciplinary proceedings against Smith.

The Academy president said that the Organization has received and accepted Smith's "immediate resignation."

Disciplinary actions by the academy include suspension or expulsion along with other sanctions.