Credit: Video still

Update (August 5, 2014):

Well, at least the cool accent isn't going away completely over on the Late Late Show. Craig's replacement will be English comedian James Corden, reports The Wrap. While the news has been neither confirmed by James' rep nor CBS, The Wrap says an "individual with knowledge of the situation" spilled the details.

As for who exactly James is, look for him in Begin Again and upcoming Disney flick Into the Woods. Best of luck filling Craig's shoes, James! Just don't try out the Scottish accent.

Original story (April 29, 2014):

In the newest late night shakeup, Craig Ferguson announced on his show Monday that he, too, will be leaving his position behind the desk at the Late Late Show this December, just before his contract ends in 2015.

“At the end of this year, I will be stepping down as the host of this show,” Craig announced, much to the dismay of his audience. “Then I’ll go and do something else. Probably, I’m thinking, carpentry. I don’t know what I’m gonna do, but I feel like I’ve done the show for ten years. That’s enough.”

Earlier this month, David Letterman announced his retirement from the hosting game to be replaced by Stephen Colbert in 2015. Is something crazy going on in the late night circuit that we need to be aware of? Why are you guys all dropping like flies?

“CBS and I are not getting divorced, we are ‘consciously uncoupling,’” Craig joked in an official statement, according to Gossip Cop. “We will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much.”

No replacement for Craig has been announced yet, but we know there are a number of stars who would be interested in the job. Who’s our pick? Chelsea Handler, who recently decided to give up the Chelsea Lately throne at E! in favor of working with a different network.

Are you surprised Craig is stepping down? Who do you want to see as his replacement?

SourcesThe Wrap, Gossip Cop, CBS

Credit: NDN Photo: Craig Ferguson Leaving Hosting Duties (VIDEO)