Despite reports of a potential ax due to poor ratings, Matt Lauer is not getting fired from "Today."

Accordimg to a report, the 54-year-old stands to lose his cushy $25 million-a-year salary if the morning show's ratings does not increase by February 2013. However, "Today" executive Alexandra Wallace came forward to deny the claims.

"There is absolutely no truth to this," Wallace told the New York Post. "There have been some recent outrageous claims regarding Matt and the 'Today' show, and an awful lot of piling on from nameless, faceless sources. These stories are wrong and irresponsible."

Wallace responded to a report by Radar Online, where a source close to the situation revealed that Wallace allegedly "told her bosses if the show isn't pulling in more viewers by February, she has no alternative but to fire Matt.
"

"News executive Alexandra Wallace has told NBC bosses she will have to replace Matt if the ratings continue to tank," an alleged insider told Radar Online. "The TODAY show has always been considered a cash cow for the network. It dominated the morning news ratings for years and brought in millions of dollars in ad revenue.
 But, if viewers continue preferring Good Morning America over the TODAY show that revenue will decrease and cuts will have to be made."

The source even divulged Lauer's possible replacement should the veteran anchor end up leaving the show.

"The replacement is likely to be Willie Geist," the source added. "He has been wildly popular with viewers."

Lauer was negatively panned on Twitter recently for his coverage of the Macy's Thanksgiving Day Parade. One Twitter user reportedly wrote, "Dear Matt Lauer, RETIRE!" 

"Matt Lauer should get a lifetime achievement award for saying ridiculous things with deadpan, absolute sincerity. Way to go Matt," wrote a different viewer, according to Daily Mail. Another wrote, "Can't decide if it's Matt Lauer that I hate, or just the mindless blather that comes out of his face all the time."

NBC News President Steve Capus weighed in on the negative feedback Lauer received. He described the criticism on Twitter as a "snarkiness (that is) an unfortunate result of misdirected anger that's been unfairly placed on Matt."

"Sadly, this is the era in which we live: Venomous tweets somehow threaten to drown out all of those who praised Matt for his coverage," Capus told the Daily Beast. "There has also been a lot of mean-spirited piling-on, which has been manufactured by many anonymous sources."

Tags: Matt Lauer today nbc Ann Curry Savanna Guthrie