A photo posted by Cory Quirino (@coryquirino) on Oct 15, 2016 at 12:41am PDT

MANILA -- TV host and beauty and wellness expert Cory Quirino announced that she is letting go of the Philippine franchise for Miss World.

A report by the Philippine Daily Inquirer said Quirino was dropping the license of Miss World Philippines "for personal and business reasons."

She also thanked everyone who supported her endeavor for six years.

Quirino's CQ Global Quest Inc. held the Philippine franchise of the prestigious beauty pageant since 2011. She also chose the country's representatives for the pageant.

The country's candidate for Miss World was chosen by Binibining Pilipinas Charities Inc. from 1992 to 2010.

Quirino did not reveal who will take over the franchise, but said she hopes it will be assigned to "a friend or associate who she has introduced to the Miss World Organization."

From 2011 to 2016, all of the contestants chosen under Quirino's management were recognized in the Miss World pageant, with Megan Young bagging the country's first-ever win in 2013.