CBS News Chairman and 60 Minutes Executive Producer Jeff Fager is giving up one of the two jobs.

Fager sent a memo out to the staff telling them that he was stepping down as the CBS News Chairman and will focus all his efforts on his EP job at 60 Minutes.

Fager says it was always his plan to return to 60 Minutes full-time and in the memo he said, "I can't imagine a better time for that than right now."

60 Minutes has been on a ratings roll as of late, finishing near the top of the ratings for the last month. 

David Rhodes will remain the President of CBS News.