The rumors are true: British actor James Corden is set to replace Craig Ferguson on The Late Late Show in 2015CBS announced Monday. 

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I can’t describe how thrilled and honoured I am to be taking over from the brilliant Craig Ferguson,” the Tony Award-winning actor said in a statement. “To be asked to host such a prestigious show on America’s #1 network is hugely exciting. I can’t wait to get started, and will do my very best to make a show America will enjoy.”

Outgoing host Ferguson tweeted his thoughts on his successor Monday: "Congratulations to the spectacularly talented James Corden who will take over the LLS after me. Great choice. I heartily endorse & approve."  Ferguson, who's hosted the Late Late Show since 2005, announced last April that he'll be leaving in December.

Ferguson's announcement came right after David Letterman announced his retirement from CBS' Late Show. He will be replaced by Stephen Colbert sometime next year.  Ferguson's Late Late Show is produced by Letterman's production company, Worldwide Pants.

Corden can currently be seen on the big screen with Keira Knightley in Begin Again.  The actor also has a role in Disney's Into the Woods, due out in December.