Academy Expedites Process To Decide 'Possible Sanctions' For Will Smith After His Resignation

The Academy of Motion Picture Arts and Sciences is speeding up the process that will determine the repercussions of Will Smith's behavior at this year's Oscars after the star's own resignation.

According to a memo sent by Academy president David Rubin and obtained by PEOPLE Wednesday, the Academy's Board of Governors will now meet on Friday rather than April 18 to discuss "possible sanctions" for Smith, 53, who won Best Actor on March 27, shortly after he hit Chris Rock on the Oscars stage during the ceremony.