Billy Bush is leaving TODAY effective immediately, NBC News has announced.

Bush's departure as one of the anchors for the show's third hour comes in the wake of his role in a controversial 2005 conversation with Donald Trump. He released a statement on Monday night, saying: "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."

"As a long-time member of the NBC family, we wish Billy all the best as he moves forward,'' Tamron Hall said on TODAY Tuesday.

NBC News suspended Bush on Oct. 10 "pending further review" of his role in the tape before senior vice president Noah Oppenheim announced his departure in an internal memo to staff on Monday night.