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Billy Bush Officially Parts Ways with the Today Show After Leaked Tape Drama

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Billy Bush has officially parted ways with the Today show, PEOPLE confirms.

A source confirmed to PEOPLE that the host will be leaving his post effective Monday. “Billy Bush will be leaving the TODAY show’s 9am hour, effective today,” the network said in a statement to employees. “While he was a new member of the TODAY team, he was a valued colleague and longtime member of the broader NBC family. We wish him success as he goes forward.”

Bush’s exit statement reads: “I am deeply grateful for the conversations I’ve had with my daughters, and for all of the support from family, friends and colleagues. I look forward to what lies ahead.”

The news comes in the wake of the Oct. 7 leak of a 2005 tape in which then-Access Hollywood host Bush and Donald Trump can be heard making lewd and graphic comments about Nancy O’Dell and Arianne Zucker while filming a segment for the entertainment program.

The same day the tape was released, Bush, 45, issued a public apology: “Obviously I’m embarrassed and ashamed,” he said. “It’s no excuse, but this happened eleven years ago — I was younger, less mature, and acted foolishly in playing along. I’m very sorry.”

Two days later, he was suspended indefinitely from NBC talk show pending review.

Bush faced serious backlash for the incident, and one insider previously told PEOPLE the prevailing attitude at Today was that they wanted Bush out.

RELATED VIDEO: Billy Bush’s Former Co-Host Kit Hoover Gets Emotional Defending Him After Scandal

Another PEOPLE source, however, said the “locker room talk” comments Bush made in the video were out of the character for the co-host, and that Bush has always been “respectful to women and kind to his colleagues.”

Bush also garnered some big-name supporters amid the controversy, including his former Access Hollywood co-host Kit Hoover, who got emotional on air defending her friend a few days after the leak.

“Those tapes were a decade ago and it was seven minutes of someone’s life, and all I can tell you is what I know and the person that I sat next to for the last six years, and that person for me is a totally different person,” said Hoover, adding, “The Billy that I know and a lot of people would say has the biggest heart of anybody and he is a good person.”