Bob Schieffer, the host of CBS' “Face the Nation,” announced that he will retire this summer, after 46 years at the network, 24 of which he spent hosting the program, it was confirmed Wednesday.

"Because that was where it all started for me, I wanted this to be the place, and I wanted you all to be the first to know that this summer I'm going to retire," he said at the annual Schieffer Symposium at Texas Christian University, his alma mater, CBS News reported.

“It's been a great adventure. You know, I'm one of the luckiest people in the world because as a little boy, as a young reporter, I always wanted to be a journalist, and I got to do that. And not many people get to do that, and I couldn't have asked for a better life or something that was more fun and more fulfilling," he added.

In addition to his duties fronting the Sunday morning current affairs show, Schieffer, 78, is also the chief Washington correspondent for CBS News.

Schieffer is one of the network's most highly regarded reporters, and has won a slew of awards, including eight Emmys. He has also interviewed every U.S. president since Richard Nixon, most recently sitting down with President Obama in November 2014, CNN reported.

“He’s been an inspiration and a mentor to so many colleagues -- and frankly, to me. You could see at TCU tonight how that inspiration extends to a wider community of reporters and editors and academics,” CBS News President David Rhodes said in a statement, cited by Entertainment Weekly.

CBS is considering its chief White House correspondent Major Garrett, and "CBS This Morning" co-anchor Norah O'Donnell as possible replacements for Schieffer. In addition, CBS News political director John Dickerson, CNN host Jake Tapper and ABC News chief White House correspondent Jonathan Karl are also on the list of contenders, according to Politico's media reporter Dylan Byers.

“Face the Nation” is typically the most popular Sunday morning current affairs show. However, ABC’s “This Week” with George Stephanopoulos has made strides over the months in attracting younger viewers while NBC’s “Meet the Press” has experienced new momentum since Chuck Todd took over hosting duties for that program last year, according to Variety.