In a statement, the organisation said that the 75-year-old will continue to serve as its president, reports The Hollywood Reporter.
"The Membership and Administration Committee and its sub-committee thoroughly reviewed and considered the claim, John Bailey's response, and corroborating statements from both parties. The Academy took the claim very seriously and was cognizant of the rights of both the claimant and the accused, including consulting with outside counsel with expertise in matters related to harassment," read the statement.
"The Committee unanimously determined that no further action was merited on this matter. The findings and recommendations of the committee were reported to the Board which endorsed its recommendation. John Bailey remains President of the Academy," it added.