There's another shake-up in late night television, as Craig Ferguson has announced he will depart the "Late Late Show" when his network contract expires in December.

It was no surprise that Ferguson, who has been with CBS for ten years, decided to leave after he was not offered David Letterman's position.

CBS Entertainment chairman Nina Tassler said in a statement: "During his 10 years as host, Craig has elevated CBS to new creative and competitive heights at 12:30. He infused the broadcast with tremendous energy, unique comedy, insightful interviews and some of the most heartfelt monologues seen on television."

Ms. Tassler continued, "Craig’s versatile talents as a writer, producer, actor and comedian speak to his great days ahead. While we’ll miss Craig and can’t thank him enough for his contributions to both the show and the network, we respect his decision to move on, and we look forward to celebrating his final broadcasts during the next eight months."