Said priest should be given one chance to recant. If he doesn't then he should be relieved of his priestly duties.
I've always been interested in the fact that non-Catholic men (and women) of the cloth are virtually ignored when it comes to THEIR peccadillos and grave offenses and it's the Catholic priests who are the targets.
There ARE as many non-Catholic Christians as there are Catholic Christians, so why the disparity?
Our Lord explains it all in Matthew 12:26 and Luke 11:18.