Robert Hurst, the president of CTV News and Current Affairs, is leaving the network after 38 illustrious years.

The veteran newsman, who has held the top news job at CTV since September 2002, announced the decision Wednesday morning to staff gathered in CTV National newsroom, who offered him a standing ovation.

With an Olympics behind him and a federal election and a royal wedding still months away, the timing was right for him to step down from his position in an organization where he'd spent his entire career.

Hurst's departure comes five months after journalist Lisa LaFlamme was chosen to succeed Lloyd Robertson, who is retiring as the anchor of CTV National News, the country's most-watched newscast.

It also comes three months after Bell Canada parent company BCE announced plans to buy CTV Inc.

"Bob goes out a winner with CTV News standing tall as Canada's No. 1 (in) news," Ivan Fecan, president and CEO of CTVglobemedia and CEO of CTV Inc., said in a statement.

"CTV News has been No. 1 for 22 years," said a statement from Hurst himself. "The reporting team is the best in Canada and well positioned to remain No. 1 for many years."

Hurst, 61, began his broadcasting career with CTV in 1973, working as a writer for Canada AM. At just 26, he was named news director at Toronto's CFTO affiliate.

Hurst later returned to reporting, where he was posted to a number of network bureaus, including Ottawa, Washington, Moscow and Beijing.

Hurst has earned six Gemini Award nominations, including three Best Reportage nominations for his stories on Central America, Haiti and Russia.

The New York Film Festival awarded Hurst a Gold Medal for his 1983 documentary, China Today, about life after Mao Tse-Tung.

In 1994, Hurst returned to Canada and held various positions, including chief news editor and vice president. In 1995, he spearheaded the application for CTV News 1, which later became CTV Newsnet, and is now known as CTV News Channel.

He was the acting senior vice-president of CTV News when the network made its major push to the web in 2000.

Hurst will remain in his current position until a successor is named in the coming weeks.