Actor turned California governor Arnold Schwarzenegger has finally agreed to forgo a multimillion dollar magazine contract after a controversy over his $1 million salary as executive editor.

According to the Internet Movie Database, the "Terminator" actor had agreed to serve as executive editor of the magazines Muscle And Fitness and Flex before he was sworn in governor of California.

His critics slammed him on grounds that it is a conflict of interest because the pay comes from advertising revenue and the magazines often feature advertisements about dietary supplements.

Said Schwarzenegger in response: "When I became governor I pledged to put the people of California front and centre... Therefore, effective today I will relinquish my title as executive editor and forgo any compensation from the magazines. I will continue to promote weight resistance training, health and fitness for all through any avenue that is available to me as I have done my entire life."