Craig Melvin will be the initial replacement for Hoda Kotb on 'The Today Show'

A source told People: "Craig is a sleeper talent. He's very well-rounded. He has all the things you want to fill this role. Hoda has two really big jobs and they're taking it one step at a time, figuring it all."

Hoda currently hosts the fourth hour of the news show alongside Jenna - who is the daughter of former President George W. Bush, and former First Lady Laura Bush - and her co-host will continue on in her duties with a segment known as 'Today with Jenna and Friends' until a permanent co-host is confirmed.

The source said: "It will be 'Today with Jenna and Friends' until a new host is named. It'll be a full-bodied rotation of people. Some expected, some who are in the family already and some unexpected. They don't know where it's going to land."

Hoda - who has adoptive daughters Haley, seven, and five-year-old Hope - will officially leave the programme on Friday January 10, and Melvin will take over three days later.

She previously noted that it would be strange at first not to have to set an alarm for three o'clock in the morning but is looking forward to being able to take her daughters to school.

Speaking on 'The Tonight Show', she said: "She said: "This is going to be totally weird. I've woken up at this time for like 17 years. This is the first time, no alarm, click it off. I was telling them, 'Mommy is going to be able to take you to school,' and they go, '[Gasp] Wednesday?' 'No honey, not Wednesday.' 'Next week?' I go, 'No honey, not next week. Probably somewhere January, February."