CBS wasted little time appointing David Letterman's heir apparent, announcing Thursday that Stephen Colbert will replace the gap-tooth icon when he retires in a year.

Network head Les Moonves said of the banner decision, “Stephen Colbert is one of the most inventive and respected forces on television.

"David Letterman’s legacy and accomplishments are an incredible source of pride for all of us here, and today’s announcement speaks to our commitment of upholding what he established for CBS in late night.”

Colbert, who artfully rebounded