The inauguration of a new President will also mark the end of Bob Schieffer's day-in, day-out contribution to CBS News. The AP's David Bauder talked with Schieffer today. The swearing-in of a new President is a natural transition, Schieffer tells Bauder. "That's when I'll stop doing what I'm doing now. But I'll still have some relationship with CBS, at least I hope so."

"Bob can work at CBS News as long as he wants to and I hope that's a long time," said CBS News President Sean McManus.

As for who would succeed Schieffer on Face the Nation, Bauder writes, "There's no obvious successor in place at CBS News. Jim Axelrod and Scott Pelley have both filled in during a rare circumstance when Schieffer was absent."