The academy has issued a brief statement declaring an investigation to be opened, although refrained from stating who was concerned. We will not comment further on such matters until the full review is completed. Bailey did not respond to a request for comment.
Bailey is the 34th Academy president, elected on August 8 2017 and is widely known for his work like Groundhog Day, American Gigolo, Ordinary People and How to Lose a Guy in 10 Days.
He succeeded Cheryl Boone Isaacs in the position, the Academy's first black president. Academy officials introduced a new Standards of Conduct initiative shortly after expelling Oscar-winning producer and AMPAS member Harvey Weinstein earlier this year (18). In December, Bailey established a code of conduct outlining disciplinary action for sexual misconduct or discrimination of any kind. He has almost 90 films to his credit including "The Big Chill", "Groundhog Day", "Ordinary People" and "As Good As It Gets".
The bombshell revelation comes as Hollywood's most powerful men face serious questions after studio bigwig Harvey Weinstein's decades of sexual assault shocked the movie industry a year ago.
In this politically correct era, Bailey, a 75-year-old white man, faced criticism over his age and skin color, with some wondering if he should be helming the Academy. A member of Board of Governors since 1980s, Bailey is also known for his work as a historian, with a keen interest in building museum with which Academy wants to protect Hollywood's cinematic legacy. Under the policy, the Academy's Membership and Administration Committee reviews allegations. If forced to step aside he would be temporarily replaced by the vice-president, Lois Burwell, a veteran makeup artist.