After serving HBO Entertainment for more than two decades, Carolyn Strauss is stepping down from her position as president of HBO, but may still stick around in a yet-to-be-determined capacity, while a search for her replacement has already begun, HBO executives confirmed Sunday night.

Throughout her career as the head of HBO, Strauss green-lighted and helped the development of its most successful original series, including "Sex and the City," "The Sopranos," "Six Feet Under" and "Da Ali G Show."

According to Los Angeles Times, Strauss, who started her career in 1986 as an assistant in the original programming department and worked her way up to the top, may take on a new role with HBO, most likely in the area of producing.

"No one has made a more significant contribution to the success of HBO than Carolyn," said HBO co-Presidents Richard Plepler and Michael Lombardo in a statement Sunday. Plepler and Lombardo are said to be looking to build their own development team and are expected to name a new entertainment president.

"We are truly delighted that she will continue to be a part of the HBO family. We cannot imagine HBO without her and we are thrilled that we will continue to have the benefit of her judgment and unique talent."

Despite the rumors that surfaced as Deadline Hollywood, an entertainment industry news site, broke the news over the weekend, it is unlikely that Colin Callender's post as president of HBO Films would be affected at all.

Similar rumors persisted about both executives possibly leaving in the aftermath of Chris Albrecht's ousting as the network's chairman and CEO last May. Albrecht was forced out of his position following his arrest in Las Vegas on suspicion of assaulting his girlfriend. He later pleaded no contest to battery charges.

Both had been key deputies and some speculated that the appointment of Lombardo as the company's top creative executive in Hollywood, president of its programming group and West Coast operations would lead to their departures, though they proved untrue.