Barbara Walters Set to Announce Retirement on Monday's ‘The View’

The veteran television journalist is retiring in summer 2014

Trailblazing television journalist Barbara Walters will announce her retirement on Monday's episode of ABC's "The View."

“I am very happy with my decision and look forward to a wonderful and special year ahead both on ‘The View’ and with ABC News. I created ‘The View’ and am delighted it will last beyond my leaving it,” Walters said in a statement.

Walters wll be ending her 37-year tenure at ABC News in Summer 2014.

Until that time, she will continue to anchor and report for ABC News and appear on "The View," as well as host specials.

She's currently slated to host December's "20 Years of 10 Most Fascinating People," an Oscars special and a career retrospective in May.

“I do not want to appear on another program or climb another mountain,” the 83-year-old also said. “I want instead to sit on a sunny field and admire the very gifted women—and OK, some men too—who will be taking my place.”

Also read: Barbara Walters Set to Retire Next Year

After retirement, she will stay on as the executive producer of "The View," the panel-style daytime show she co-created with Bill Geddie and has co-hosted since it premiered in 1997.

"There's only one Barbara Walters,” said ABC News president Ben Sherwood. “And we look forward to making her final year on television as remarkable, path-breaking and news-making as Barbara herself. Barbara will always have a home at ABC News and we look forward to a year befitting her brilliant career, filled with exclusive interviews, great adventures and indelible memories."

Walters started her career as a writer, producer and reporter for NBC's "Today" show in 1962. In 1974, she became a co-host on the morning news show — the first woman to hold the position on any network news show. Two years later, she left to become the co-anchor for "ABC Evening News," again the first woman to hold such a position on an evening news program.

Also read: Barbara Walters on Retirement: 'I Have No Announcement to Make'

She would go on to produce and co-host for ABC's news magazine show, "20/20," and host her trademark primetime specials.

In March, "The View" co-host Joy Behar, who has been with the daytime talk show since its debut, announced that she's leaving the show at the end of its current season.

Soon after, reports surfaced that "Survivor" contender-turned-co-host Elisabeth Hasselbeck was also eyeing an exit, which Walters said was untrue.