A month before the latest season of 'American Idol' premieres, Fox announced that Randy Jackson will be replaced by Scott Borchetta as the show's mentor.

Borchetta, who is the president and CEO of the label Big Machine is also known as "the man who launched Taylor Swift," will be the mentor of 'American Idol' Season 15 contestants.

On top of mentoring the show's budding musicians, Borchetta will also sign the winner of the show onto his music label, in partnership with Universal Music Group and 19 Entertainment.

At present, the label's roster includes Tim McGraw, Rascal Flatts, Florida Georgia Line, Band Perry and Taylor Swift, whom Borchetta discovered when the singer was only 14-years-old.

Borchetta joined the show during its Hollywood Week, and his role in the show has been "re-imagined and stepped up."

TV Line said that when former 'Idol' judge Randy Jackson took over the role of mentor from Interscope records chief Jimmy Iovine in 2013, the mentor role has been botched, but now that the job will be handled to Borchetta, a lot of changes are expected to happen in the show.

His involvement in the show comes during a time when the show has somehow lost the ability to launch chart-topping singers like Kelly Clarkson and Carrie Underwood, among others.

"There's only one reason I'm doing this: American Idol has proven again and again that it can launch superstars. I believe that working with these young artists the same way we work with new artists at the Big Machine Label Group will help the next American Idol be as prepared as possible to continue the tradition of creating new superstars," Borchetta said in a statement.

The Big Machine president added that the entire label group "will be invested and we look forward to bringing our energy, focus and know-how to help develop this young talent at the highest levels."