"A key member of our on-air team, Lara Spencer, rejoined ABC three years ago -- bringing her style, humor, sunny confidence, wonderful journalism and storytelling to GMA," he said in a release. "Lara is clearly an essential ingredient in the success we have enjoyed and I am so pleased to announce that Lara has been elevated to co-host of the program along with Robin and George."
Spencer joined GMA in 2011 as the show's lifestyle anchor. Her new deal will net her $3 million a year.
The move comes after news reader Josh Elliot left the show last month and Sam Champion departed in December.
[New York Daily News]
Swim Week Miami Beach 2014 [PHOTOS]