By Jennifer Maas
Updated April 08, 2015 at 12:00 PM EDT
Credit: CBS

The anchor of CBS News’ Face the Nation, Bob Schieffer, announced Wednesday that he will retire this summer after over 50 years working in the media industry.

Schieffer, 78, has been with CBS News for 46 years and this year marked his 24th year hosting Face the Nation, which was the highest rated Sunday talk show in 2014, having that honor for the third consecutive year.

He chose to make the announcement at the annual Schieffer Symposium held at his alma mater, Texas Christian University on Wednesday. “Because this is where my professional career began, this is where I wanted all of you to be the first to know, this summer I am going to retire,” Schieffer said, according to CBS News.

Schieffer is one of the most decorated broadcast journalists, having won almost every award in the field including eight Emmys, the overseas Press Club Award, the Paul White Award, the Edward R. Murrow Award, and in 2008 he was named a living legend by the Library of Congress. Two years ago he was inducted into the National Academy of Arts and Sciences Hall of Fame. Texas Christian University named its journalism school in his honor.

He has interviewed every president since Richard Nixon—including his three interviews with President Obama since he took office, moderated presidential debates, and authored four books.

“He’s been an inspiration and a mentor to so many colleagues– and frankly, to me. You could see at TCU tonight how that inspiration extends to a wider community of reporters and editors and academics,” CBS News President David Rhodes said in a statement.

He became the CBS’ chief Washington correspondent in 1982 and was made anchor and moderator of Face the Nation, CBS News’ Sunday public affairs broadcast, nine years later. Schieffer also anchored the Saturday edition of The CBS Evening News for 23 years.

He was born in Austin, Texas, and grew up in Fort Worth, where he graduated from North Side High School and Texas Christian University. He served three years in the U.S. Air Force.

Prior to joining CBS in 1969, Schieffer was a reporter at the Fort Worth Star-Telegram, where he was the first reporter from a Texas newspaper to report from Vietnam.