Oscars Slapgate: Will Smith resigns from Academy, but displinary probe continues

"I am heartbroken. I want to put the focus back on those who deserve attention for their achievements and allow the Academy to get back to the incredible work it does to support creativity and artistry in film."

David Rubin, AMPAS president. has issued  a statement after Smith's resignation. "We have received and accepted Mr. Will Smith's immediate resignation from the Academy of Motion Picture Arts and Sciences. However, the resignation may not put a plug on the controversy just yet.” He added, "We will continue to move forward with our disciplinary proceedings against Mr Smith for violations of the Academy's Standards of Conduct, in advance of our next scheduled board meeting on April 18."

It is speculated that Smith might lose the Best Actor award that he received for his performance in King Richard. He could also face legal action for assaulting Chris on a public platform.

Smith’s resignation came two days after the academy met to initiate disciplinary proceedings against him for violations against the group's standards of conduct.

On Sunday, Smith strode from his front-row Dolby Theatre seat on to the stage and smacked Rock, who had made a joke at the expense of Smith's wife, Jada Pinkett Smith. Moments later, he went on to win the best actor award for his role in King Richard. Rock declined to file charges when asked by police.