The entertainment world seems to be getting a major overhaul as of late, and the latest development sees Stephen Colbert lined up to replace David Letterman on “Late Show.”

In an announcement from CBS, the “Colbert Report” star, who signed a 5-year deal, could barely contain his enthusiasm about the upcoming gig.

Stephen gushed, “Simply being a guest on David Letterman’s show has been a highlight of my career. I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead…I’m thrilled and grateful that CBS chose me. Now, if you’ll excuse me, I have to go grind a gap in my front teeth.”

When sharing his plans for retirement, Letterman noted, “The man who owns this network, Leslie Moonves, he and I have had a relationship for years and years and years, and we have had this conversation in the past, and we agreed that we would work together on this circumstance and the timing of this circumstance. And I phoned him just before the program, and I said, ‘Leslie, it’s been great, you’ve been great, and the network has been great, but I’m retiring,’”

“I just want to reiterate my thanks for the support from the network, all of the people who have worked here, all of the people in the theater, all the people on the staff, everybody at home, thank you very much.”

After Colbert was announced, Moonves told press, “Stephen Colbert is one of the most inventive and respected forces on television. David Letterman’s legacy and accomplishments are an incredible source of pride for all of us here, and today’s announcement speaks to our commitment of upholding what he established for CBS in late night.”