Veteran CBS newsman Bob Schieffer to retire this summer

Bob Schieffer, host of the CBS news program "Face the Nation" and Hall of Fame inductee, poses at the Academy of Television Arts & Sciences 22nd annual Hall of Fame gala in Beverly Hills, California March 11, 2013. REUTERS/Fred Prouser (UNITED STATES - Tags: ENTERTAINMENT) - RTR3EV95

CBS says veteran newsman Bob Schieffer is retiring this year.

In a memo to staff Wednesday, CBS News President David Rhodes said that the chief Washington correspondent and anchor of "Face the Nation" will retire this summer.

Rhodes said that the 78-year-old Schieffer made the announcement Wednesday night in Fort Worth, Texas, at TCU's Schieffer College of Communication. Scheiffer graduated from the school and started his career in Texas, at the Fort Worth Star-Telegram.

He joined CBS in 1969 and has been chief Washington correspondent since 1982 and host of "Face the Nation" since 1991.

In his memo, CBS News head Rhodes called Schieffer an inspiration and mentor for many of his colleagues.

Plans for "Face the Nation" and for the Washington bureau will be reported soon, Rhodes said.