The Late Late Show host Craig Ferguson has announced that he will depart the program at the end of the year.

The decision was made by Ferguson himself, according to a press release.

Update: Watch a small clip from Monday’s episode in which Ferguson tells his audience he’s leaving:

Said the host humorously in a statement, “CBS and I are not getting divorced, we are ‘consciously uncoupling’ [a reference to Chris Martin and Gwyneth Paltrow’s split statement in March], but we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much.”

Ferguson first announced the news during the taping of tonight’s broadcast.

“During his 10 years as host, Craig has elevated CBS to new creative and competitive heights at 12:30,” said Nina Tassler, Chairman, CBS Entertainment. “He infused the broadcast with tremendous energy, unique comedy, insightful interviews and some of the most heartfelt monologues seen on television.”

She continued, “Craig’s versatile talents as a writer, producer, actor and comedian speak to his great days ahead. While we’ll miss Craig and can’t thank him enough for his contributions to both the show and the Network, we respect his decision to move on, and we look forward to celebrating his final broadcasts during the next eight months.”

The decision comes on the heels of David Letterman’s announcement that he will be departing The Late Show sometime next year, and the news from CBS that Stephen Colbert will be taking his place.

Since CBS decided not to let Ferguson take over Letterman’s chair, many expected the Late Late host to depart the network.

Now the question is: Who will replace Ferguson weeknights at 12:37 a.m.? We wouldn’t be surprised to see an announcement in the next few weeks. Maybe it will be one of the people we thought should replace Letterman.

The Late Late Show premiered in 2005. Ferguson has a new syndicated show in the works titled Celebrity Game Night, which will premiere later this year.