The network believed salaries in that range are no longer justifiable due to declining broadcast ratings, Puck News reports

Looking ahead, Kotb says she wants to branch into storytelling and philanthropy, including writing more books and producing documentaries. So while her departure marks the end of an era for the morning show, it also the beginning of new opportunities for Kotb to explore new interests on her own terms.

Kotb first joined NBC as a correspondent back in 1998. She became a co-anchor of the 10 a.m. hour alongside Kathie-Lee Gifford in 2008, with the show dubbed “Today with Kathie-Lee and Hoda.”