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Jodi Guglielmi
May 12, 2017 01:44 PM

Academy President Cheryl Boone Isaacs has decided not to run for re-election, PEOPLE has confirmed.

“It’s been my greatest honor serving on the Academy’s Board of Governors in numerous capacities for more than two decades, and it will be a privilege to provide the opportunity for new voices to have a seat at the table,” Boone Isaacs said in a statement.

Boone Isaacs served on the Academy’s board of governors for more than two decades and was the third female and first black president.

The Hollywood Reporter was the first to report the news.

Boone Isaacs was president for four years — two of which proved to be the Academy’s most controversial.

In 2016, the Academy came under fire after only white actors were nominated in the acting categories for the second year in a row.

At the time, Boone Isaac’s released a statement saying she was “both heartbroken and frustrated” about the lack of diversity – and said the group is stepping up efforts to address it. “The Academy is taking dramatic steps to alter the makeup of our membership,” she added.

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And while the efforts proved to be successful the following year, the Oscars once again hit a snag when the wrong winner was announced for the Best Picture category (Warren Beatty and Faye Dunaway announced La La Land the winner when in fact, Moonlight was meant to take home the prize).

Following the incident Boone Isaacs sent out an email praising the Academy members for their hard work. She acknowledged the mistake made during the presentation for the Best Picture Oscar, writing, “We all know that the wrong envelope and the problems that ensued were caused by the failure of PwC’s accountants to follow established protocols and their delay in immediately remedying the situation.”

PwC has accepted full responsibility for the error,” she continued. “Rest assured, changes will be implemented to ensure this never happens again.”

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