04/10/2014 12:13 EDT | Updated 04/11/2014 11:59 EDT

Stephen Colbert Named As New Host Of 'The Late Show', To Replace David Letterman

Comedian Stephen Colbert will be taking over as host of the Late Show, CBS confirmed in a tweet on Thursday.

Colbert is the current host of Comedy Central's The Colbert Report.

"Stephen Colbert is one of the most inventive and respected forces on television," CBS Chairman and CEO Les Moonves said in a statement.

Earlier this month, long-time Late Show host David Letterman announced that he would be retiring in 2015.

Colbert was considered a front-runner for the much-coveted 'Late Show' job and friend and long-time colleague Jon Stewart said that he would be a great successor to Letterman.

“He’s got some skill sets that are really applicable, interviewing-wise, but also he’s a really, really good actor and also an excellent improvisational comedian. He’s also got great writing skills. He’s got a lot of the different capacities. Being able to expand upon [those] would be exciting," Stewart told NY Mag's Vulture blog.

The move creates an opening on Comedy Central's 'The Colbert Report', the political satire/late-night talk show.

Behind 'The Colbert Report'