Craig Ferguson currently announced his retirement from the CBS late night television show "The Late Late Show", just after a few weeks, the legendary David Letterman also declared stepping down from his hosting spot which is scheduled in 2015.

The Late Late Show, which started airing on television since 2005, Monday's taping showed, Craig Ferguson's announcement that he will be retiring by end of this year. The show airs during weekdays at 12:35 am., after David Letterman's Late Show.

Craig Ferguson was also considered one of the strongest candidate to be the replacement for David Letterman's host spot on the Late Show, although CBS announced that Stephen Colbert will be the primary choice. The Late Late Show host was not able to get the spot even if the show he hosted won a Peaboy Award in 2009.

Reports were given that The Late Late Show had some decrease in ratings over the past few months, and speculations were made that it was caused by a competitor within the similar time slot of the show, which was Seth Meyers who was launched in February of this year.

Even if Craig Ferguson was steeping out and retiring from The Late Late Show, his relationship with the network, CBS, is still intact. He recently gave out a statement that he would still spend some time with the network, and will be fine with the decision made.

The CBS Entertainment Chairwoman, Nina Tassler, also made some remarks that Craig Ferguson has provided incredible energy and a unique blend of comedy that has given the show great appreciation.

Craig Ferguson will be doing a new job that will be available for him within the year as a host for a "Celebrity Name Game". The game show will debut anytime soon, but he also joked to his audience during the announcement of his retirement that he also plans to do some carpentry while out of the job.

Meanwhile, The Late Late Show has another spot to fill, CBS is already looking for a candidate to replace Craig Ferguson.