Perhaps it’s time for the Carrington mansion to get fitted for a revolving door?

TVLine has learned exclusively that Nicollette Sheridan is exiting Dynasty after a little over a year of playing Alexis Carrington. In a statement to TVLine, The CW and CBS Television Studios said, “Nicollette Sheridan will be leaving Dynasty in order to focus on some personal family responsibilities. She was a valuable asset to the show and we wish her continued success in the future.”

Sheridan will make her final appearance as Alexis in March and, per an insider, the role may be recast.

UPDATE: Sheridan released her own statement early Tuesday.

“Working on the Dynasty reboot and reprising the iconic role of Alexis has been thoroughly enjoyable, but the chance to spend precious time with my terminally ill mother is more important to me right now. I am profoundly grateful to Mark Pedowitz (The CW) and David Stapf (CBS) for graciously allowing me to return to Los Angeles to be with her, and I wish them and everyone associated with the show nothing but continued success. I am hopeful that my fans will embrace my successor with as much passion as they embraced me.”

Sheridan’s departure represents the third major cast shake-up to rock the reboot in less than a year, following the exits of series regulars Nathalie Kelley (as the original Cristal) and James Mackay (as Steven).

Sheridan joined Dynasty midway through Season 1 as the mother of all troublemakers, succeeding Joan Collins, who popularized the iconic role in the original ABC series. It marked Sheridan’s first major TV gig since her stormy exit from Desperate Housewives in 2009. Prior to her five-season stint on the ABC drama, Sheridan was a series regular on the primetime soap Knots Landing.

Despite modest-at-best ratings, Dynasty has already been renewed for a third season at The CW.