Stephen Colbert to replace David Letterman on 'Late Show'

Comedy Central’s Stephen Colbert will be heading over to CBS to replace David Letterman when "The Late Show” host retires in 2015.

Colbert has signed a five-year agreement with CBS, according to an official announcement from the network.

“Stephen Colbert is one of the most inventive and respected forces on television,” President of CBS Les Moonves said in a statement. “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.”

Colbert added: “Simply being a guest on David Letterman’s show has been a highlight of my career. I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead. I’m thrilled and grateful that CBS chose me. Now, if you’ll excuse me, I have to go grind a gap in my front teeth.”

The comedian currently hosts "The Colbert Report," which has been nominated for 27 Emmys since its launch in 2005.

On April 3, Letterman announced that he would be leaving the late-night scene after 21 years. The veteran host has yet to decide the timetable for his final episodes, CBS stated.

“Stephen has always been a real friend to me. I’m very excited for him, and I’m flattered that CBS chose him," Letterman stated. "I also happen to know they wanted another guy with glasses.”

Though Comedy Central didn't say what would become of "The Colbert Report," the network did release a statement about their star's big move.

“Comedy Central is proud that the incredibly talented Stephen Colbert has been part of our family for nearly two decades.  We look forward to the next eight months of the ground-breaking Colbert Report and wish Stephen the very best.”