Geoffrey Rush has resigned from his position as President of the Australian Academy of Cinema and Television Arts following allegations of “inappropriate behavior” during the 2015 Sydney Theatre Company production of King Lear.

AACTA acknowledged Rush’s decision in a statement, which reads in part: “We have been deeply concerned about the situation and support a course of action that both respects Geoffrey’s rights to the presumption of innocence and due process, but also acknowledges good corporate governance in these circumstances.”

Rush released a statement to the press, which read: “Certain recent media reports have made untenable allegations concerning my standing in the entertainment community. It is unreasonable that my professional colleagues should be somehow associated with such allegations.

“In the circumstances, I have decided to step aside in my ambassadorial role as president of AACTA effective immediately and until these issues have been resolved. … This decision has not been made lightly. However, in the current climate of innuendo and unjustifiable reporting, I believe the decision to make a clean break to clear the air is the best for all concerned.”

Melbourne Theatre Company are still pushing forward with a 2018 production of Twelfth Night starring the actor, with a spokesperson telling Fairfax: “MTC has not identified any allegations of inappropriate behaviour during Geoffrey Rush’s employment.

“MTC has a robust and well established respectful workplace policy that applies to all employees, including performers, creatives and contractors. MTC is monitoring the situation closely.”

The poster, which was defaced recently in Melbourne CBD, certainly isn’t helping things.

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