"I can't wait to get started while hopefully serving up fashion fantasies for the ages, honey," said the actress
Laverne Cox, Giuliana Rancic
Credit: Charles Sykes/Bravo/NBCU Photo Bank/NBCUniversal via Getty; George Pimentel/WireImage

Things are shaking up at E! following Giuliana Rancic's exit.

The network announced Monday that Laverne Cox will take over as host of E!'s signature red carpet coverage. Cox, 48, will assume the role beginning with the 2022 award season.

In addition to hosting Live from E!, the advocate, actress and Emmy-winning producer will host a series of celebrity-based interview specials spotlighting major players in the entertainment industry who are making waves in Hollywood.

"I'm so excited and deeply humbled to be hosting E!'s iconic red carpet coverage. For many years I would wake up early on awards show days, get my snacks in place and watch E!'s coverage all day long," Cox said in a statement. 

"I dreamed of walking red carpets. Now, not only have I had several fun and amazing personal red carpet moments, I also get to be a red carpet guide for E!'s discerning audience and chat with my colleagues and folks I deeply admire for these very special events in their lives," she continued. "I can't wait to get started while hopefully serving up fashion fantasies for the ages, honey."

25th Annual Screen Actors Guild Awards, Arrivals, Los Angeles, USA - 27 Jan 2019
Credit: Rob Latour/REX/Shutterstock

In a statement, E! executive Jen Neal called Cox "a risktaker, groundbreaking pioneer and a fashion tour de force."

"As we continue to evolve the way we cover Hollywood's biggest nights, Laverne's passion for, and extensive knowledge of, the fashion community resonates with our audience and we look forward to seeing her shine on the other side of the velvet rope," Neal continued.  

To celebrate the news, the network tweeted a mini highlight reel with clips of Cox from various E! red carpet specials over the years, writing, "#LiveFromE has a brand new host. Join us in welcoming @LaverneCox to the famil-E."

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The news comes after longtime host Rancic — who first joined E! as a correspondent in 2005 — announced her departure on Friday, revealing that she had inked a new development deal with NBCUniversal.

"After 20 fabulous years hosting E!'s red carpet, I have decided to step out of my red carpet heels into a new pair of shoes," she captioned an Instagram post. "⁣⁣One of my passions is great storytelling and I am thrilled to announce a new development deal with E!'s parent company NBCUniversal where I will be producing and bringing stories to life. To my E! family, thank you for allowing me to make my red carpet dreams come true for the past two decades. It has truly been a highlight of my career and life."

Rancic continued, "To my production team throughout the years, you are all simply the best. We have made some beautiful memories together that I will always carry with me. ⁣⁣⁣And to all the viewers, all around the world, thank you for watching and supporting me as we went along together on this red carpet ride. I love and appreciate you all and I sure hope you will join me as I enter this exciting new chapter."