Will Smith resigns from Academy and SAG-AFTRA reviewing the incident

Will Smith has resigned his membership from 'Academy Motion Pictures Art and Science' after he slapped Chris Rock at the 94th Academy Awards presentation. Will in his statement says "I have directly responded to the Academy’s disciplinary hearing notice, and I will fully accept any and all consequences for my conduct,” he said. “My actions at the 94th Academy Awards presentation were shocking, painful, and inexcusable," adding that he "will accept any further consequences the Board (of Governors) deems appropriate."

Will Smith could also face penalties from SAG-AFTRA which covers the performers at the Academy Awards. "SAG-AFTRA is a union consist of 160,000 actors, journalists and performers". Currently they are reviewing the incident and Will could face penalties such as "suspension, fines, reprimands, censure and Expulsion which is most serious penalty".