“Today Show” co-host Matt Lauer addressed Bill Bush’s departure from NBC on Tuesday morning.

“NBC announced last night that Billy Bush would be leaving the ‘Today’ show, effective immediately, noting that he was a valued colleague and longtime member of the broader NBC family,” said Lauer. “All of us here at ‘Today’ wish Billy the very best.”

The decision was made official Monday afternoon, in which NBC News Senior Vice President Noah Oppenheim released a statement regarding Bush’s departure from the network.

“Billy Bush will be leaving the Today show’s 9 a.m. hour, effective today,” said Oppenheim. “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.”

The former co-host was suspended from NBC Oct. 9 following the release of a 2005 “Access Hollywood” video, in which the then-host participated in a profane conversation about women with Donald Trump. Bush issued an apology almost immediately after the footage was leaked, saying, “I was younger, less mature, and acted foolishly in playing along. I’m very sorry.”

Bush released another statement Monday following his exit, in which he looked to the future and remained optimistic for his career.

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