Stephen Colbert will replace David Letterman as host of “The Late Show.” CBS announced the decision Wednesday afternoon in a press release, less than a week after Letterman’s announcement that he will retire in 2015.

“Specific creative elements,” like the show’s location and producers, will be decided and announced at a later date, according to CBS. Colbert will retire his “Colbert Report” character when he takes over.

(via Gawker)