Dermot O'Leary has decided to move on from 'The X Factor' and will longer be hosting the show.
The 41-year-old TV presenter, who has been hosting the ITV show for the past 8 years, said in a statement that I had been a wonderful experience, but it was time to move on, the BBC reported.
He thanked ITV, Simon Cowell, the entire 'The X Factor' family, and the viewers, and extended his good wishes for the person who would fill his position saying "You're about to be the conductor on the most brilliant, runaway train in showbiz. Good luck you'll love it!"
O'Leary had taken over from Kate Thornton in 2007, and now Ladbrokes have made singer Olly Murs, a former 'X Factor' runner-up, favourite to take over the vacant presenting role.
A spokesman for ITV called O'Leary "a fantastic host" adding the channel was "sorry to see him go", but they wish him all the very best for the future, hoping that he'll soon be back on ITV screens.