Tyra Banks quits her talk show after just two months

Tyra Banks has quit her new daytime talk show 'FABLife'.

The former model, who turned to TV presenting after retiring from the catwalk in 2005, has made the "very difficult decision" to leave the ABC series after just two months at the helm in order to focus on her cosmetics company.

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In a statement, the 41-year-old star, who co-hosted the show alongside Chrissy Teigen, Leah Ashley, Lauren Makk and Joe Zee, said: "This is a very difficult decision, but necessary. I will be devoting more time to my new, growing cosmetics company, TYRA Beauty, which is expanding faster than anticipated, as well as overseeing my company's other entertainment ventures.

"I will however continue to support the growth and success of 'FABLife', and greatly admire my fellow co-hosts and the talented production team behind the show."

But a source told PEOPLE.com: "The show wasn't what Tyra wanted. [She] was disappointed with the direction that the producers were taking. It wasn't right for her. She hopes it will be successful for the other cast members but she has to move on."

The news comes just one month after the businesswoman announced the current cycle of her other series 'America's Next Top Model' will be its last season.

The ambitious star graduated from Harvard Business School in 2012 and recently revealed she only decided to enroll because she was determined to have a self-funded company.

She explained: "I'm obsessed with ownership. I want to have the say, not just a say. So I needed to have the tools. I want to be a really strong leader."