LOS ANGELES (Variety.com) - David Letterman will host his final "Late Show" on May 20, before departing the desk he's occupied for 22 years.

"David Letterman has given to all of us a remarkable legacy of achievement and creative brilliance that will never be forgotten," said Leslie Moonves, President and CEO of CBS Corp. "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."

Stephen Colbert will take over for Letterman on an as-yet unspecified date in 2015, after airing his final episode of "The Colbert Report" on Dec. 18.

"The Late Show with David Letterman" is a production of Worldwide Pants Incorporated. Barbara Gaines, Matt Roberts, Jude Brennan, Maria Pope and Rob Burnett are the executive producers. Jerry Foley is the director.