Stephen Colbert to replace David Letterman on ‘Late Show’

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Stephen Colbert will succeed David Letterman as the host of “The Late Show,” CBS announced on Thursday, one week after Letterman told his audience that he would retire sometime in 2015.

CBS said Colbert had signed a five-year contract to host the iconic late-night broadcast.

Colbert, 49, has been the host of Comedy Central’s “The Colbert Report” since 2005.

“Stephen Colbert is one of the most inventive and respected forces on television,” CBS Chairman and CEO Les Moonves said in a statement Thursday. “David Letterman’s legacy and accomplishments are an incredible source of pride for all of us here, and today’s announcement speaks to our commitment of upholding what he established for CBS in late night.”

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