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Chuck Todd, the former “Meet the Press” moderator and a longtime fixture of NBC’s political coverage, told colleagues on Friday that he was leaving the network.

A nearly two-decade veteran of NBC, Mr. Todd said that Friday would be his last day at NBC.

“There’s never a perfect time to leave a place that’s been a professional home for so long, but I’m pretty excited about a few new projects that are on the cusp of going from ‘pie in the sky’ to ‘near reality,’” he wrote to colleagues. “So I’m grateful for the chance to get a jump start on my next chapter during this important moment.”

Mr. Todd, 52, is the latest TV news star to step aside at a moment when salaries are being scrutinized — and slashed — by major media companies. Hoda Kotb exited NBC’s “Today” show this month, and Neil Cavuto of Fox News and CNN’s Chris Wallace departed their cable news homes late last year.

Mr. Todd joined NBC in 2007 and became a major presence of NBC and MSNBC’s political coverage during the 2008 presidential campaign. From there, Mr. Todd’s profile grew considerably. He was named the “Meet the Press” moderator in 2014, and he also hosted a daily talk show on MSNBC, “Meet the Press Daily.”

But over the past few years, Mr. Todd has been less omnipresent on NBC’s airwaves. The MSNBC show was moved to a digital channel in 2022, and Mr. Todd stepped down from “Meet the Press” in 2023, handing over the reins to Kristen Welker.

Last year, Mr. Todd helped unleash a rare on-air rebellion after the network hired Ronna McDaniel, the former chairwoman of the Republican National Committee, as a political analyst. His comments about the hiring during an episode of “Meet the Press” opened the floodgates at the company, with MSNBC stars like Rachel Maddow, Joe Scarborough and Nicolle Wallace also criticizing the hiring on the air, before Ms. McDaniel was abruptly let go.

In a statement, NBC News said on Friday: “We’re grateful for Chuck’s many contributions to our political coverage during his nearly two-decade career at NBC News and for his deep commitment to ‘Meet the Press’ and its enduring legacy. We wish him all the best in his next endeavors.”