(CNN) President Donald Trump plans to nominate US Treasurer Jovita Carranza as administrator of the Small Business Administration, replacing Linda McMahon, he announced in a Thursday evening tweet.

"I am pleased to announce that Jovita Carranza will be nominated as the new @SBAgov Administrator. She will be replacing Linda McMahon, who has done an outstanding job," Trump wrote , adding, "Jovita was a great Treasurer of the United States -- and I look forward to her joining my Cabinet!"

McMahon, a longtime Trump ally and former professional wrestling executive, is leaving the administration to join his outside political group, America First, two sources familiar with the move confirmed to CNN last week.