Stephen Colbert has already begun making the final rounds of ‘The Colbert Report’ in preparation for his new CBS ‘Late Show’ hosting gig, but don’t expect David Letterman to vacate the chair just yet. The longest-running late-night host has officially set a departure date for May 2015, bringing an end to ‘The Late Show with David Letterman’ as we know it.

Per CBS’ official announcement on the matter, Letterman will surprisingly stay on through May of next year, officially ending his ‘Late Show’ tenure on May 20, 2015. That leaves plenty of time for send-offs, as well as for Colbert to develop his new vision of the ‘Late Show,’ shedding the conservative blowhard persona he’d become synonymous with at Comedy Central.

Capping off Letterman’s 32 years in late-night hosting (22 for ‘The Late Show’), here’s what CBS honcho Les Moonves had to say of Letterman’s departure:

David Letterman has given to all of us a remarkable legacy of achievement and creative brilliance that will never be forgotten. It’s going to be tough to say goodbye, but I know we will all cherish the shows leading up to Dave’s final broadcast in May.

Colbert himself has no official premiere date, while Craig Ferguson’s final episode of ‘The Late Late Show’ will air on Friday, December 19, with ‘Into the Woods’ star James Corden beginning his takeover in March 2015. What say you, though? Will you miss David Letterman as host of ‘The Late Show,’ or at least cherish the final 5 months of his tenure?

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