Will Smith resigns from the Academy

After slapping presenter Chris Rock on stage at last weekend's Academy Awards, 

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

"I am resigning from membership in the Academy of Motion Picture Arts and Sciences, and will accept any further consequences the Board deems appropriate,

" Smith said in a statement shared with CNN by his publicist.

Smith's statement concluded, "Change takes time and I am committed to doing the work to ensure that I never again allow violence to overtake reason."

After the embarrassing episode at Sunday night's Oscars, The Academy announced on Wednesday that it had "initiated disciplinary proceedings" against Smith.

David Rubin, President, Academy of Motion Picture Arts and Sciences, said in a statement Friday that the organization has received and accepted Smith's "immediate resignation."

"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," Rubin added.

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