Will Smith resigned from the Academy of Motion Picture Arts and Sciences on Friday, and will accept any punishment imposed on him by the industry group, which has initiated a discipline process against him, multiple publications reported.

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Will Smith accepted an Oscar for his performance in King Richard at the 94th Oscars.

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Smith apologized to the Oscars nominees who were overshadowed by Sunday's incident and to Rock, as well as to the Academy, in a statement quoted by Variety.

Two days after the Academy announced it had begunDisciplinary proceedings against Smith, he made a public announcement.

The Academy's board of governors has the option to ban Smith from future Oscars ceremonies or to strip him of his Oscar if they decide to take action against him.

Will Packer, producer of the Oscars, told Good Morning America that Smith has not faced legal consequences for the attack and that Rock still has the option to press charges.

2022 Vanity Fair Oscar Party Hosted By Radhika Jones - Inside

Will Smith and Jada Pinkett Smith attend the Vanity Fair Oscar Party hosted by Radhika Jones.

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Smith slapped Rock and demanded he keep his wife's name out of his mouth after the comedian made a joke about Smith's shaved head. Smith apologized for the incident. According to unnamed sources, Smith said he wanted to apologize and make this right. Smith apologized to the Academy for his performance in King Richard, but did not apologize to the other nominees, instead making a joke about the difficulty of receiving abuse. Smith's favorability rating fell to a record low of 50% in a Morning Consult poll published Friday.

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There are differing accounts of whether Smith was told to leave the awards ceremony after he slapped Rock. Variety and Deadline quoted anonymous sources as saying that Smith was never asked to leave. One source told Variety that Packer urged Smith to stay, but another source denied this.

Will Smith's popularity fell after the Oscars.