‘The View’

“It’s been seven wonderful years on ‘The View’ and after careful consideration it is time for me to move on,” Shepherd said in a statement. “I am extremely grateful to Barbara Walters and Bill Gedde for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my ‘View’ family and my fans for supporting me on this journey.”

“The View will be moving in an exciting new direction next season and ABC has made decisions to evolve the show creatively,” ABC said in a statement.

Rumors that Shepherd was looking to exit the series first surfaced last November, when a “well-placed production source” told Radar Online that the star was “worried she’ll be out of a job after Barbara [Walters] leaves,” and was “quietly looking for new opportunities.”

No word yet on who will be replacing the duo, but Whoopi Goldberg is expected to return for Season 18.