Craig Ferguson To Step Down As "Late Late Show" Host

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Craig Ferguson announced Monday he will step down as host of "The Late Late Show," according to CBS.

Ferguson broke the news Monday afternoon during the taping of his show.

"CBS and I are not getting divorced, we are 'consciously uncoupling,' but we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much," said Ferguson.

Craig Ferguson will continue to host "The Late Late Show" until December 2014.

Ferguson has several projects in the works, including hosting "Celebrity Name Game," a syndicated game show beginning fall 2014.

His departure is part of a shakeup in CBS late night programming.

Stephen Colbert is set to replace David Letterman when "The Late Show" host retires in 2015.