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The Academy of Motion Picture Arts and Sciences announced today that filmmaker Brian Grazer will be producing the 84 th annual Academy awards after Brett Ratner gave up the position this week.

“Brian Grazer is a renowned filmmaker who over the past 25 years has produced a diverse and extraordinary body of work,” said Academy President Tom Sherak, in a news release. “He will certainly bring his tremendous talent, creativity and relationships to the Oscars.”

Grazer will join Don Mischer to produce the Feb. 2012 show, Academy officials said.

“It’s very gratifying to be part of a show that honors excellence in the medium to which I have devoted so much of my career,” said Grazer in the release. “Don is a legend, and I am excited to work with him.”

The move comes after Ratner came under fire for using an anti-gay slur at “Tower Heist” screening.  He resigned as producer of the show on Tuesday.

Following Ratner’s resignation, Eddie Murphy, who was slated to host the show, decided to quit today.

“First and foremost I want to say that I completely understand and support each party’s decision with regard to a change of producers for this year’s Academy Awards ceremony,” Murphy said in statement released by the Academy today. “I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I’m sure that the new production team and host will do an equally great job.”

ABC News’ Sheila Marikar contributed to this report.