A TV insider told NEW IDEA: "Allison will now be known as 'Ally' as they think it will make her more relatable and down-to-earth as they try and rebrand her from serious news journalist to fun, energetic breakfast show host.
"Ally is also what she is known as to friends and family, even though 'Allison' has always been her professional title - until now. It will take some getting used to for TV fans.
"Let's just hope she doesn't lose what is so special about her - and that is her fantastic current affairs know-how. She should be there as a co-host to Karl holding her own, rather than as someone to pump Karl's tyres and laugh at his, at times, lame jokes, which has unfortunately been the role of some of his former female co-hosts.
"Nine will do anything at this stage to beat Seven's Sunrise team of Samantha Armytage and David 'Kochie' Koch, who continue to thrash them in the television ratings battle."
As well as unveiling Ally's name change, Nine roled out a new promo and pictures of the latest Today hosts, who will replace Georgie Gardner and Deborah Knight.
"We can't wait to tell you all the news, all the important stuff in the day, but send you off with a laugh," Karl said.
Allison added: "We just provide a bit of fun, but you know when the big stories break, we have got it covered."
The pair will also be joined by Perth newsreader Tracy Vo, weatherman Tim Davies and former Sunday Night reporter Alex Cullen, who will present sport. Brooke Boney will continue her role as entertainment reporter.
Karl's return comes after he was unceremoniously dumped from the show while on his honeymoon with her second wife, Jasmine Yarbrough, in December 2018. The divorced father-of-three is set to welcome a fourth child with the shoe designer in a matter of months.