Craig Ferguson is to leave 'The Late Late Show'.

The Scottish talk show host has announced plans to exit the late night show at the end of the year after 10 years fronting the programme, which airs after 'The Late Show with David Letterman'.

Craig quipped in a statement: ''''CBS and I are not getting divorced, we are 'consciously uncoupling,' but we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much.''

Craig's exit has been widely speculated after CBS and David Letterman - who produces 'The Late Late Show', as well as his own - decided to hire Stephen Colbert to take over 'The Late Show' instead of Craig.

CBS entertainment chairman Nina Tassler said: ''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.''

It's not yet known who will replace Craig, but it's thought 'How I Met Your Mother' actor Neil Patrick Harris - who has hosted the Emmy and Tony Awards on numerous occasions - could be a frontrunner.