Barbara Walters was given a standing ovation as she announced that she will retire from The View on May 16, and that the date will mark her final day on TV.

“It’s a special day for me,” Walters said on Monday’s View, reiterating the finale date news. “I don’t want to get too weepy.”

“I love being on with the two of you,” she continued, with a wave to Jenny McCarthy and Sherri Shepherd, and then went on to say, “I cannot tell you how much emotion and love I have for Whoopi (Goldberg) – and admiration.”

Whilst she feels sadness at having so few days left, Walters explained “It feels right for me. I love this show. I love what we’ve done. It will continue without me. But I also know that it’s time. I don’t want people to say, ‘Is she still here?’”

After she announced her impending retirement last year, Walters told ABC News that she was excited “to find out if there’s something I can do besides television.”

Despite her absence from the screen, Walters will continue to executive produce the show, and will be a “lifelong member of ABC News, contributing as news warrants.” says ABC.

The company plans to honour Walters’ achievements with a two hour primetime special on the night of her retirement and will also rename the ABC News Headquarters in New York City in her name. In the days leading up to her retirement, The View will toast Walters’ career with a week-long celebration.