Giuliana Rancic recently released a statement announcing her decision to leave her current position as day-to-day anchor for E! News.

Rancic's last day as day-to-day anchor will be on Aug.10. She will then become the executive producer of a new show "Rich in Faith" on Oxygen while continuing to grow her wine company and clothing line.

And though she will no longer be the official anchor for E! News, Rancic will still be affiliated with E! as a "Fashion Police" commentator and "Live From the Red Carpet" co-host.

"For more than a decade, I was fortunate enough to play a role in the success of E! News and will miss my family at the show," Rancic said in an official statement. "At the same time, I am excited to not only continue as host of two major franchises on E! but also executive produce the aspirational new show Rich in Faith for Oxygen as well as take my wine and clothing lines to the next level."

She added, "This is such a thrilling time for me and I thank the gang at E! for understanding my desire to embark on this next chapter in my life."

Though Rancic has named the desire to expand her career as the reason for her departure, Page Six claims that it was Rancic's alleged feud with fellow E! news co-host Maria Menounos that forced Rancic to part ways with the network.

"They've always been rivals. Maria sees Giuliana as competition and it goes back years," says a Page Six source. "They never speak and they won't appear on-set together. It's kind of unspoken that if she is in the building, Giuliana wants nothing to do with her."

Rancic has since slammed the rumor of her feud with Menounos and insists that she has no bad blood with anyone from E!

In a recent interview with People, Rancic said, "I've never had a feud or drama with any of my E! News hosts or co-hosts, and there certainly isn't one now. There is no feud. It takes two to feud, and I'm not feuding!"