Jul 19 (TheWrap.com) - Amid all of "The View" chaos and cat-fighting, outgoing co-host Sherri Shepherd is apparently all smiles.

While a guest at Wendy Williams' 50th birthday party in New York City this week, Shepherd expressed both gratitude for the ABC opportunity and joy over her chance to explore new options.

"Excitement is going through my mind because the sky is the limit with possibilities," Shepherd told Us Weekly. "You can't grow without change. You will stay the same and it will not be good. I'm all about running towards things that you fear. I'm so grateful that Barbara Walters gave me the opportunity for seven years and they've prepared me for whatever comes."

She added: "I'm very, very excited. My last day is Aug. 7 and I'm giddy. I've gotten Barbara Walters' blessing and I am so joyful. It is time to leave and time to fly and you can't grow without change so I am not supposed to be at 'The View' next year. I am just happy."

Both Shepherd and Jenny McCarthy announced June 26 that they'd be leaving "The View." Barbara Walters departed the series a month earlier during a special retirement episode that united all former 11 "View" co-hosts.

At the time, Shepherd said in a statement to TheWrap: "It's been seven wonderful years on 'The View' and after careful consideration it is time for me to move on. I am extremely grateful to Barbara Walters and [executive producer] Bill Geddie for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my 'View' family and my fans for supporting me on this journey."

Recently, the announced return of Rosie O'Donnell has ignited some fireworks and drama over the upcoming season's makeover, including a rekindled feud with former colleague Elisabeth Hasselbeck.

Reports over a number of rumored replacements are a hot topic among insiders and viewers alike, including TheWrap's exclusive report on Meghan McCain. However, beyond Rosie's return nothing is official yet and ABC is not commenting on any casting speculation.