Arnold Schwarzenegger has been named as the newest host of "The Celebrity Apprentice" season 14. The action star replaces Donald Trump, who is now busy with U.S. presidential candidacy. With Arnold on the show, it's believed he will not only be replacing the show host position but also Trump's iconic catch phrase, "You're fired."

Conan O'Brien gave some suggestions as Schwarzenegger's possible catch phrase during his "Conan O'Brien Show" on Monday. The show host basically gave phrases taken from lines in Arnold's previous movies, including "The Terminator," "Jingle All The Way" and "Collateral Damage."

In the video below, Conan tries his best to mimic Arnold's voice as he goes through the list of phrases, which includes "Hasta la vista baby," "You're terminated," "You're expandable," "You've been totally recalled" and so on. Conan ends the list with "I'll be back but you won't 'cause you're fired."

There are a lot of catch phrases to choose from, but a source told Hollywood Life exclusively that NBC has specifically chosen Arnold because of his "Terminator" past. So it's likely that he will also be changing Trump's "You're Fired" catch phrase to "You're Terminated." A report from CNBC claims "You're Terminated" has a more sinister ring to it than Trump's catch phrase.

"Some people are joking about it, but it's actually the thing that Arnold and Mark Burnett want to happen. That is, changing the iconic 'You're Fired' to an obvious nod to Arnold's most famous character and saying 'You're Terminated' when it comes to getting rid of celebrities," the source told Hollywood Life.

The former governor of California was announced as the new host for season 14 of "The Celebrity Apprentice" on Monday. In a statement posted by CNBC, network executive Paul Telegdy expressed his excitement in welcoming the action star to the "Apprentice" franchise.

Telegdy highlighted Arnold's political works and called the actor "the epitome of a global brand in entertainment and business." On his announcement shared by CNBC, Telegdy said Arnold was hired as host of "The Celebrity Apprentice" because of his "personal passion for the format that Mark Burnett and Donald Trump built over the last decade, as well as his fresh take on how to take it to new heights for today's audiences." Arnold also spoke about being a huge fan of "The Celebrity Apprentice" and expressed his thrill in bringing his experience as a former governor to help raise more money for charity.