Kelly Osbourne QUITS Fashion Police!

Kelly Osbourne is leaving Fashion Police following controversy involving her co-host Giuliana Rancic, E! News has confirmed.

"Kelly Osbourne is departing E!'s Fashion Police to pursue other opportunities, and we would like to thank her for her many contributions to the series over the past five years, during which time the show became a hit with viewers," the network said in a statement.  "Fashion Police will return, as scheduled, on Friday, March 30th at 9:00 p.m. and no decisions have been made on her replacement."

The outspoken Brit actually threatened to walk earlier in the week, after Rancic criticized Osbourne pal Zendaya's dreadlocks at the Oscars, saying it looked like she smelled like "patchouli oil." (She later apologized.)

"I WILL NOT BE DRAGED [sic] INTO THIS!" Osbourne tweeted at the time. "The situation is being rectified like ADULTS by both parties. I hope you can leave it to them & do the same! You guys do realize that @Zendaya is my friend, right?"

"Kelly hasn't been happy at the show for a while," an insider has said, "and this whole situation solidified her decision to move on. It was time for her to go. She had five great years there, and the relationship she had with Joan there changed her life."