Letterman, the legendary, critically acclaimed host of the CBS late night series for 21 years, announced his retirement on his April 3 broadcast. Colbert's premiere date as host of The Late Show will be announced after Mr. Letterman determines a timetable for his final broadcasts in 2015.
Specific creative elements, as well as the producers and the location for the Colbert-hosted Late Show, will be determined and announced at a later date.
Here's what CBS president Leslie Moonves had to say about Stephen Colbert in a statement.
CBS Entertainment chairman Nina Tassler also released a statement.
Stephen Colbert himself had this to say about taking over for David Letterman.
Since its launch on Comedy Central in 2005, The Colbert Report has received widespread critical acclaim while earning two Peabody Awards and 27 Emmy nominations, including an Emmy win for Outstanding Variety Series (2013) and three Emmy wins for Outstanding Writing for a Variety, Music or Comedy Program (2013, 2010, 2008). Prior to that, Colbert spent eight years as a correspondent on Comedy Central's The Daily Show as an on-air personality and writer of news satire for the Emmy and Peabody Award-winning series.
In addition, Colbert is an accomplished author, with two books, I Am America (and So Can You!) and America Again: Re-Becoming the Greatness We Never Weren't, appearing on the New York Times best-seller list. America Again also won a Grammy Award for Spoken Word (2014).
In music, Colbert's original holiday musical special on Comedy Central, A Colbert Christmas, won a Grammy Award for Best Comedy Album (2009) and Emmy nominations for Art Direction, Picture Editing and Original Music and Lyrics. In April 2011, Colbert starred as Harry in the New York Philharmonic presentation of Stephen Sondheim's Company.
After graduating from Northwestern University, Colbert was a member of Chicago's acclaimed Second City improv troupe with Amy Sedaris and Paul Dinello. The trio later created and starred in the CableAce-nominated sketch comedy series, Exit 57, and created the cult-hit narrative series Strangers with Candy, both for Comedy Central.
Colbert has appeared on series such as HBO's Curb Your Enthusiasm and NBC's Law & Order: Criminal Intent. He was also a cast member and writer on ABC's The Dana Carvey Show, wrote for Saturday Night Live and voiced roles in DreamWorks' animated films Mr. Peabody and Sherman and Monsters Vs. Aliens.
The Late Show is broadcast weeknights on the CBS Television Network from 11:35 PM - 12:37 AM, ET/PT.