Fashion retailer Victoria's Secret responded Wednesday to a report that model Miranda Kerr's $1 million, three-year contract as a Victoria's Secret Angel has not been renewed.

The company's president and chief marketing officer, Ed Razek, said in a statement to Newsday, "While her international commitments have kept her away from us more than we'd like over the past few years, she will always be an Angel to me. We have no plans to stop working with her. In fact, I've already invited her to walk the runway in this year's fashion show and, happily, she's agreed."

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Razek also addressed Us Weekly's report that Kerr, 30, the wife of "Lord of the Rings" actor Orlando Bloom, was being dropped due to allegedly difficult behavior and a lackluster commercial track record.

"Miranda Kerr is one of the best models in the history of the business -- and easily one of the most popular," Razek's statement said. "She is also a consummate professional. Any rumors to the contrary are simply untrue."