Scott Borchetta Scott Borchetta

Scott Borchetta, the record label executive who discovered and signed Taylor Swift when she was 14, is replacing Randy Jackson as mentor to the contestants on American Idol, Fox announced Wednesday.

Borchetta is the president and CEO of the Big Machine Label Group, which also houses Tim McGrawRascal FlattsFlorida Georgia Line and The Band Perry. The winner of American Idol XIV, which premieres in January, will be signed to the record label.

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"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 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."

Borchetta joined American Idol during Hollywood Week and will continue to mentor the contestants during the live shows, alongside returning judges Keith UrbanJennifer Lopez and Harry Connick Jr.

American Idol kicks off Season 14 with a two-night premiere on Wednesday, Jan. 7 and Thursday, Jan. 8 at 8/7c on Fox.

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