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"It was easily the greatest job I've had, and CBS was very generous in their offer to re-sign me," Kilborn told Daily Variety. "But I simply want to try something new. I can now focus on writing and producing different television projects I haven't had time for."
Not one to pass up a gag, Kilborn added: "And this is cool: I will continue to wear makeup in my everyday life."
He likely will wrap up his tenure by within a month, according to a source close to the production, Variety reported Friday. The program is produced by David Letterman's company, Worldwide Pants.
CBS, which learned of Kilborn's decision Thursday, had no comment on his replacement, a CBS spokesman said Friday.