Ratner pulled out of the show Tuesday amid controversy over his use of the word “fag” during a Q&A following a screening of his new movie Tower Heist on Friday.
“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 says in a statement.
“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.”
Academy President Tom Sherak commented, “I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well.”
Ratner brought Murphy in as Oscars host as part of his efforts to attract a younger audience to the ceremony following this year’s poorly received event.
The Oscars air February 26 on ABC which means that the Academy is looking for a replacement producer and host.