The ETS President, Frances Beckwith, has resigned after returning to full communion with the Roman Catholic Church.
The story appears to have broken publicly when evangelical apologist James White published this post. Beckwith tells his own story here. Apparently he feels he can still affirm the notoriously mimimalistic ETS doctrinal statement and intends to retain his membership in the organization.
I have to believe (and hope) that a failure to expel Beckwith will be the last straw for independent fundamentalist and Southern Baptist participation in ETS. I remember hearing several years ago that serious discussion about withdrawal was taking place within elements of both camps who remained in the organization despite the failure of the membership to expel proponents of open theism, despite the recommendation of the executive committee to that end.