The two-time Academy Award winner said in a statement obtained by CNN that she was "humbled" to take on the role."This festival plays a pivotal role in bringing the world together to celebrate story; that strange and vital endeavor that all peoples share, understand and crave," Blanchett said.Related: Reese Witherspoon, Shonda Rhimes, Meryl Streep among powerful women in anti-harassment groupBlanchett will become the 12th woman to lead the Cannes jury. This announcement comes on the heels of sexual misconduct allegations against several of Hollywood's most powerful men. Blanchett has been vocal about the allegations against former movie producer, Harvey Weinstein, telling Variety that she "wholeheartedly" supports the women who have come forward. Blanchett is also participating in the anti-harassment initiative, Time's Up, which was announced on Monday. The Cannes Film Festival will take place from May 8 to May 19.