So long Donald Trump and hello Arnold Schwarzenegger. NBC Network announced Monday that the "Terminator" actor has been named the new host of "The Celebrity Apprentice."

"I have always been a huge fan of 'The Celebrity Apprentice' and the way it showcases the challenges and triumphs of business and teamwork," Schwarzenegger said in a statement, according to Entertainment Weekly. "I am thrilled to bring my experience to the boardroom and to continue to raise millions for charity. Let's get started!"

The former governor of California will make his debut in the 2016-2017 season, according to the show's executive producer Mark Burnett. Schwarzenegger will replace Trump who left the reality competition franchise to run for president in the 2016 election.

"After leaving the show to run for political office, Donald made it clear that he wanted 'The Celebrity Apprentice' to be able to continue to raise millions of dollars annually for worthy causes, and now NBC and I have found an amazing new leader to do just that," Burnett said in a statement. "Gov. Schwarzenegger will use his vast and highly successful business, political and media experience to drive this hit franchise to new heights."

So, what makes Schwarzenegger a good choice for the role of "CEO?"

He's considerably good when it comes to handling money and people. He served two terms as governor of California where he managed 300,000 state employees and an enormous state budget.  

Schwarzenegger, who was a guest on "The Apprentice" in 2007 when he was still governor, returned to the big screen after retiring from politics. He starred in "The Expendables" and "Terminator: Genisys," which opened in July and has earned nearly $450 million globally. He has also made millions starring in blockbuster films like "Conan The Barbarian" and the "Terminator" franchise films. Schwarzenegger has brought in roughly $2 billion at the U.S. box office over a nearly 40-year career.

In addition to his political and Hollywood traits, Schwarzenegger received some of his financial independence from his success as an entrepreneur and business ventures and investments including restaurants, real estate development and sports franchises.

This will be Schwarzenegger's first shot fronting a reality show. Viewers will get a chance to see if Schwarzenegger can surpass the $15 million Trump helped raise for charity. Paul Telegdy, President, Alternative and Late Night Programming, NBC Entertainment, said it was the actor's personal passion for the show that made him the best candidate.

"We are thrilled to be opening a powerful new chapter in the story of the Apprentice franchise," Telegdy said in a statement, according to Entertainment Weekly. "Arnold Schwarzenegger is the epitome of a global brand in entertainment and business, and his accomplishments in the political arena speak for themselves. It was Arnold's personal passion for the format that Mark Burnett and Donald Trump built over the last decade, as well as his fresh take on how to take it to new heights for today's audiences, that made him the man to hire. 'The Celebrity Apprentice' ... will be back!"

Trump gave Schwarzenegger his blessing via Twitter, writing, "He'll be great & will raise lots of $ for charity."

In 2004, "The Celebrity Apprentice" premiered to an average audience of 20.7 million, but viewership has dropped over the years. The show's most recent season, averaged 7.6 million viewers, Deadline reported. 

HNGN previously reported that Magic Johnson, Richard Branson and Mark Cuban were on top of the list as possible replacements for Trump's "The Celebrity Apprentice" seat.

Do you think Schwarzenegger can pull off the "You're Fired" phrase?