- Rancic was criticized in February for a comment about a star's hair
- She will stay on "Fashion Police" and red carpet coverage
"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 a 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. 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."
The entertainment journalist will stay on as co-host of "E!'s Live From the Red Carpet" and as part of "Fashion Police." It was her participation in the latter that caused a stir in February, when she critiqued Disney star Zendaya Coleman on the Academy Awards red carpet.
In a conversation with then co-hosts Kelly Osbourne, Kathy Griffin and Brad Goreski, Rancic said of Coleman's faux dreadlocks, "I feel like she smells like patchouli oil ... or maybe weed."
Rancic later apologized on air for the remark, and Osbourne, who is a friend of Coleman's, quit the show.
Rancic leaves her day-to-day post with best wishes from her boss.
"During her time here, Giuliana played an instrumental role in building 'E! News' into a global entertainment news powerhouse and, while we will miss seeing her on set every day, we are delighted to continue to work with her on 'Fashion Police' and 'Live From the Red Carpet,' " said Adam Stotsky, general manager of E! and president of Esquire Network.
Rancic, who is married to former "Apprentice" winner Bill Rancic, will depart August 10.