Some big changes are coming to ABC News. Diane Sawyer is stepping down as anchor of World News.

The world-renowned journalist who recently led the award-winning program to a number one finish in the ratings, says she decided it was time to take on a new role at ABC.

According to ABC, Sawyer will focus on new programming and creating television specials and events, and continue to conduct big interviews.

David Muir will be succeeding Sawyer as anchor and managing editor of World News.

Muir who currently anchors World News during the weekend and 20/20, will start in his new role September 2. While leading ABC's flagship broadcast, he will also continue to anchor 20/20 with Elizabeth Vargas.

George Stephanopoulos is also celebrating a promotion. He was named chief anchor of ABC News. In addition to anchoring Good Morning America and 'This Week', he will lead the networks coverage of all special events and breaking news.

James Goldston, the president of ABC News, called Diane, David and George 'One-of-a-kind journalists', saying, "For years to come, they will inspire us all to do our best work and set a high bar for excellence to inform, empower and inspire our viewers."