Arnold Schwarzenegger is headed for the boardroom.
The Celebrity Apprentice has named the actor and twice-elected California governor as the new host of the reality competition, NBC announced Monday.
Schwarzenegger replaces longtime host Donald Trump, who parted ways with NBC shortly after he announced his presidential campaign in June.
The network first said it planned to "re-evaluate" Trump's role on the reality competition – which stems back to its 2005 debut – in June when Trump announced he was running for president. At the time, NBC's stance was because of the strict rules networks must abide by in giving equal screen time to all presidential candidates.
However, NBC severed all ties with Trump in July after he made what NBC deemed to be "derogatory statements" about Mexican immigrants. In a June 16 speech, he referred to Mexican immigrants as "rapists" and as people bringing drugs and crime into the U.S. in a speech announcing his presidential campaign.
PHOTOS: A look at Arnold's life and career
Arnold Schwarzenegger named new 'Celebrity Apprentice' host
Then-California Governor Arnold Schwarzenegger takes his oath of office in 2007 as then-wife Maria Shriver looks on in Sacramento.
Former California Gov. Arnold Schwarzenegger, center, talks with actor Ed Begley, Jr, and Mary Nichols, chairman of the California Air Resources board, before his remarks at a symposium on California's landmark 2006 global warming law in Sacramento, Calif., Monday, Sept. 8, 2014. Making a rare political appearance, Schwarzenegger spoke at the Global Climate Negotiations: Lessons From California conference, put on by the USC Schwarzenegger Institute, then will unveil his official governor's portrait at the Capitol.(AP Photo/Rich Pedroncelli)
Former Gov. Arnold Schwarzenegger leaves the stage after speaking at a symposium on California's landmark 2006 global warming law in Sacramento, Calif., Monday, Sept. 8, 2014. Making a rare political appearance, Schwarzenegger spoke at the Global Climate Negotiations: Lessons From California conference, put on by the USC Schwarzenegger Institute, then will unveil his official governor's portrait at the Capitol. (AP Photo/Rich Pedroncelli)
Former California Gov. Arnold Schwarzenegger walks to the stage to speak before crowded auditorium at a symposium on California's landmark 2006 global warming law in Sacramento, Calif., Monday, Sept. 8, 2014. Making a rare political appearance, Schwarzenegger spoke at the Global Climate Negotiations: Lessons From California conference, put on by the USC Schwarzenegger Institute, then will unveil his official governor's portrait at the Capitol.(AP Photo/Rich Pedroncelli)
Former California Gov. Arnold Schwarzenegger discusses global warming while speaking at a symposium on California's landmark 2006 global warming law in Sacramento, Calif., Monday, Sept. 8, 2014. Making a rare political appearance, Schwarzenegger spoke at the Global Climate Negotiations: Lessons From California conference, put on by the USC Schwarzenegger Institute, then will unveil his official governor's portrait at the Capitol. (AP Photo/Rich Pedroncelli)
Matthew Dowd, former pollster and strategist for President George W. Bush, reportedly carried on an affair with Maria Shriver while Arnold Schwarzenegger was the Governor of California. He is pictured here on the floor of the 2004 Republican National Convention in New York.
From second left, Quebec Premier Jean Charest, California Gov. Arnold Schwarzenegger, Schwarzenegger's wife Maria Shriver and Charest's son Antoine Charest pose for photos before they meet at the second Governors' Global Climate Summit in Los Angeles Friday, Oct. 2, 2009. Man at left is unidentified.
Maria Shriver arrives at the 2014 Creative Arts Emmys at Nokia Theatre L.A. LIVE on Saturday, Aug. 16, 2014, in Los Angeles.
Arnold Schwarzenegger is pictured as one of the pallbearers for the casket of Maria Shriver's father, R. Sargent Shriver. The group carried his remains into Our Lady of Mercy Catholic Church for a funeral Mass in Potomac, Md., just outside Washington, Saturday, Jan. 22, 2011. Shriver, the man responsible for launching the Peace Corps after marrying into the Kennedy family, died at the age of 95 after suffering from Alzheimer's disease for years. His son, Anthony Shriver, is at far right. His daughter, Maria Shriver, is at left, joined by her husband, actor and former California Governor Arnold Schwarzenegger, second from right.
Dowd seated between veteran news anchor Diane Sawyer (left) and political strategist Donna Brazile (right) while broadcasting from ABC News' 2012 election set in Times Square
Maria Shriver attends at 22nd Annual Alliance for Children's Rights Dinner at The Beverly Hilton Hotel on Monday, April 7, 2014 in Beverly Hills, Calif.
"My body. *My* choice!"
Plus, some things never change ...
"If my life was a movie, no one would believe it."
As a kid himself!
FILE - In this Jan. 22, 2011 file photo, Maria Shriver, right, and her husband, actor and former California Gov. Arnold Schwarzenegger, stand amid family members and other mourners as they leave the funeral Mass for her father, R. Sargent Shriver, at Our Lady of Mercy Catholic church in Potomac, Md., just outside Washington. Schwarzenegger says his lifelong penchant for secrecy and ability to put his emotions "on deep freeze" led him to keep many secrets from his wife Maria Shriver, eventually causing the dissolution of their marriage when he was forced to admit he fathered a child with the family's housekeeper years earlier. (AP Photo/J. Scott Applewhite, File)
FILE - In this Oct. 2, 2009 file photo, California Gov. Arnold Schwarzenegger and his wife Maria Shriver pose for photos before they meet at the second Governors' Global Climate Summit in Los Angeles. The former California governor originally indicated in a divorce filing that he does not want to pay Shriver spousal support. Schwarzenegger filed an amended response in his divorce Monday, July 25, 2011 indicating that he is now willing to pay Shriver spousal support and for her divorce lawyer. Shriver filed divorce papers July 1, to end their marriage of 25 years. (AP Photo/Reed Saxon)
***FILE*** This July 15, 1990 file photograph shows Eunice Kennedy Shriver, right, with her daughter Maria, left, and son-in-law California Gov. Arnold Schwarzenegger, who holds his daugher Katherine, at the Kennedy Family Compound in Hyannis, Mass. (AP Photo/Charles Krupa)
California Gov. Arnold Schwarzenegger, right, kisses his wife Maria Shriver after speaking to gymnasts and their families during the Arnold Sports Festival Saturday, March 7, 2009, in Columbus, Ohio. (AP Photo/Jay LaPrete)
California Gov. Arnold Schwarzenegger, left, and First Lady Maria Shriver pose together after they were given the "Family Visionary Award" at the Habitat for Humanity "Building a Better Los Angeles" gala in Beverly Hills, Calif., Wednesday, Oct. 1, 2008. (AP Photo/Chris Pizzello)
California Gov. Arnold Schwarzenegger, left, and his wife Maria Shriver, right, arrive at the White House to attend a dinner hosted by President Obama, Sunday, Feb. 22, 2009 in Washington. The National Governors Association is holding its winter meeting in Washington this weekend. (AP Photo/Pablo Martinez Monsivais)
California Gov. Arnold Schwarzenegger, left, takes his oath of office as his wife Maria Shriver looks on in Sacramento, Calif, Friday, Jan. 5, 2007.(AP Photo/Steve Yeater)
Gov. Arnold Schwarzenegger kisses his wife Maria Shriver as they celebrates during the victory party in Beverly Hills, Calif., Tuesday, Nov. 7, 2006. Schwarzenegger coasted to a second term Tuesday, after a campaign in which he promised to rebuild California, and wound up rebuilding himself.(AP Photo/Kevork Djansezian)
(L-R) Patrick Schwarzenegger, Arnold Schwarzenegger and Christopher Schwarzenegger attend the premiere for "The Expendables 2" at Grauman's Chinese Theatre on Wednesday, Aug. 15, 2012 in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
Liana Liberato, right, a cast member in "If I Stay," poses with boyfriend Patrick Schwarzenegger, son of Arnold Schwarzenegger, at the premiere of the film at the TCL Chinese Theatre, Wednesday, Aug. 20, 2014, in Los Angeles. (Photo by Chris Pizzello/Invision/AP)
Arnold Schwarzenegger and son Patrick, left, arrive for the European Premiere of The Last Stand at a central London cinema in Leicester Square, Tuesday, Jan. 22, 2013. (Photo by Joel Ryan/Invision/AP)
LOS ANGELES, CA - SEPTEMBER 08: Actor and former California Governor Arnold Schwarzenegger and his daughter Katherine attend Trust Your Senses At DVF for Fashion's Night Out on September 8, 2011 in Los Angeles, California. (Photo by Amanda Edwards/Getty Images for DVF)
NEW ORLEANS - FEBRUARY 16: (LtoR) California governor Arnold Schwarzenegger with son Patrick Schwarzenegger, Maria Shriver and Christopher Schwarzenegger watch during NBA All-Star Saturday Night part of 2008 NBA All-Star Weekend at the New Orleans Arena on February 16, 2008 in New Orleans, Louisiana. (Photo by Bryan Bedder/Getty Images)
UNITED STATES - NOVEMBER 16: Arnold Schwarzenegger and wife Maria Shriver are on hand at the Plaza Hotel where he was honored with a Global Youth Peace & Tolerance Award. (Photo by Richard Corkery/NY Daily News Archive via Getty Images)
E366553 3/26/00 Los Angeles, Ca. Arnold Schwarzenegger And Wife Maria Shriver At The 72Nd Annual Academy Awards. Dave Mcnewonline Usa Inc. (Photo By David Mcnew/Getty Images)
368141 12: ***ESCLUSIVE*** Arnold Schwarzenegger plays in the hotel swimming pool with one of his daughters during an Easter vacation April 21, 2000 in Maui, Hawaii. (Photo by Chris Morton/Online USA)
BEIJING - MAY 19: (NO U.S. TABLOID SALES) Actor Arnold Schwarzenegger and his wife, television journalist Maria Shriver, visit the Forbidden City during a Special Olympics Event May 19, 2000 in Beijing, China. (Photo by David Hume Kennerly/Getty Images)
Arnold Schwarzenegger & Family during Hollywood Celebrity Families turn out to Celebrate Old Navy and P.S. Arts Partnership at Old Navy Store in Santa Monica, California, United States. (Photo by SGranitz/WireImage)
399207 01: Actor Arnold Schwarzenegger and his son, Patrick, pose in front of an F-22 Raptor with airmen in this undated recent photo at Edwards Air Force Base in California. In a recent poll, military members voted Schwarzenegger the star they would most like to meet. (Photo by Stacee McCausland/USAF/Getty Images)
SACRAMENTO, CALIFORNIA - NOVEMBER 17: California Governor-elect Arnold Schwarzenegger walks with his wife Maria Shriver and their four children to his inaugural ceremony at the State Capitol in Sacramento on Novemeber 17, 2003 in Sacramento, California. (Photo by Lucy Nicholson-Pool/Getty Images)
UNITED STATES - MAY 01: Eunice Shriver with daughter Maria, Arnold Schwarzenegger and some of her grandchildren attending the National Center on Poverty Law's Tribute to Sargent Shriver at the Beverly Hilton Hotel in Beverly Hills, CA 05/01/03 (Photo by Vinnie Zuffante/Getty Images)
BEVERLY HILLS, UNITED STATES: Actor Arnold Schwarzenegger(2nd from R) and his wife Maria Shriver(R) arrive at the premiere of the Steven Spielberg movie 'Amistad' with family members Bobby Shriver(L), Timothy Shriver(2nd from L) and his wife(C) 08 December in Beverly Hills. The film about a slave ship revolt stars Morgan Freeman and Anthony Hopkins. AFP PHOTO Vince BUCCI/mn (Photo credit should read Vince Bucci/AFP/Getty Images)
"Money doesn't make you happy. I now have $50 million but I was just as happy when I had $48 million."
"My body is like breakfast, lunch, and dinner. I don't think about it, I just have it."
"The mind is the limit. As long as the mind can envision the fact that you can do something, you can do it, as long as you really believe 100 percent."
"Milk is for babies. When you grow up you have to drink beer."
"I have to give the audiences what they enjoy seeing while I try to bring in a little something new"
"Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength."
"You know, nothing is more important than education, because nowhere are our stakes higher; our future depends on the quality of education of our children today."
"People should make up their own mind about what they think of me."
"Failure is not an option. Everyone has to succeed."
Former California Gov. Arnold Schwarzenegger discusses global warming while speaking at a symposium on California's landmark 2006 global warming law in Sacramento, Calif., Monday, Sept. 8, 2014. Making a rare political appearance, Schwarzenegger spoke at the Global Climate Negotiations: Lessons From California conference, put on by the USC Schwarzenegger Institute, then will unveil his official governor's portrait at the Capitol.(AP Photo/Rich Pedroncelli)
In addition to cutting him from Celebrity Apprentice, the network also dropped the Miss USA pageant – which aired on Reelz Channel on July 12 – as well as the Miss Universe, and Miss Teen USA pageants.
Celebrity Apprentice has continued to be a solid ratings performer for NBC. The most recent season averaged a 2.4 rating among adults 18-49 despite the nearly yearlong gap between the start of production in early 2014 and the season's debut in January 2015. The show was renewed in February. However, NBC announced at the Television Critics Association summer press tour that the series would not return until the 2016-2017 season.
At the tour, network chief Bob Greenblatt said that the network had been "overwhelmed by a number of really exciting people" hoping to fill the host spot left vacant by Trump. "As soon as we settle on someone, we will get the word out, and something tells me it will be big news," he said.
Despite their summer separation, Greenblatt praised Trump as "a lovely guy" and spoke highly of their "congenial, really great relationship." Trump appeared on NBC's Tonight Show on Friday – his first late-night appearance since announcing his presidential campaign.
Schwarzenegger joins Celebrity Apprentice for the upcoming 15th season of the franchise. "I have always been a huge fan of The Celebrity Apprentice and the way it showcases the challenges and triumphs of business and teamwork," he said in a statement. "I am thrilled to bring my experience to the boardroom and to continue to raise millions for charity. Let's get started!"
Since leaving office in 2011, Schwarzenegger has recently appeared in Terminator Genisys and The Expendables films. On the small screen, his credits include the series finale of Two and a Half Men and the Showtime docuseries Years of Living Dangerously, which he produced.
"After leaving the show to run for political office, Donald made it clear that he wanted The Celebrity Apprenticeto be able to continue to raise millions of dollars annually for worthy causes, and now NBC and I have found an amazing new leader to do just that," said executive producer Mark Burnett in a statement. "Gov. Schwarzenegger will use his vast and highly successful business, political and media experience to drive this hit franchise to new heights."
Added Paul Telegdy, NBC's president of late-night and alternative programming: "Arnold Schwarzenegger is the epitome of a global brand in entertainment and business, and his accomplishments in the political arena speak for themselves. It was Arnold's personal passion for the format that Mark Burnett and Donald Trump built over the last decade, as well as his fresh take on how to take it to new heights for today's audiences, that made him the man to hire. The Celebrity Apprentice ... will be back!"
Schwarzenegger will also serve as an executive producer on The Celebrity Apprentice with Burnett, Page Feldman and Eric Van Wagenen. United Artists Media Group will produce.