Lorne also has a few people in mind to one day take over his role as executive producer.
During an appearance on "CBS Mornings" on Monday December 20, "Saturday Night Live" co-creator, Lorne Michaels, revealed that it may be time for his retirement after the show's 50th anniversary in 2024.
The 77-year-old considers "SNL" his life's work, however when Gayle King asked the executive producer whether or not he had ever considered retirement, Michaels admitted that he had plans to leave the show within the next three years.
"Well, I think I'm committed to doing the show until its 50th anniversary, which is in three years. I'd like to see that through," he confessed. "And I feel like that would be a really good time to leave."
"Here's the point, I won't want the show ever to be bad. I care too deeply about it, it's been my life's work. So, I'm going to do everything I can to see it carry on and carry on well," Lorne added.
The comedy legend also stated that he believed the variety show could run smoothly without him, and that he had a "sense of where we're headed" in terms of "SNL's" evolution. While he wouldn't reveal any names, Lorne also shared that he had a few people in mind to one day take over his role as executive producer, "I'm not going to go on about it — it's three years away."
Michaels got candid about the show’s legacy as well as the moment the weight of its impact on comedy truly hit him on its 40th anniversary in 2015.
"Just seeing all the generations of the show. You can't put anyone in the cast that you don't have complete faith in. You may not know how it'll turn out, but you want that decision to have been pure of heart," he said.
Lorne was awarded with a 2021 Kennedy Honor earlier this month, and is credited for jump starting the careers of many comedy legends such as Tina Fey, Amy Poehler, Chris Rock and more.
Michaels also produces "Late Night with Seth Meyers" and "The Tonight Show Starring Jimmy Fallon" on NBC, and has won 20 Emmys over the years.
The legendary producer is also responsible for the production of "30 Rock", "Wayne's World" and "Mean Girls."