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Rosie Perez will leave ABC's 'The View'

Rosie Perez is departing "The View" after a one-season stint on ABC's daytime chat show.

Perez, 50, addressed her exit on Wednesday's program after she was tearfully greeted with a group hug by her other co-hosts.

"I've decided that it's time to move on," she said before thanking a lengthy list of show staff members and ABC executives.

Perez, who will leave next month, said the show "opened me up to a whole new audience and I will forever be grateful for that... I do not have one regret coming to this show."

There was a general feeling among critics that Perez was never quite at ease with the topical discussion segments on "The View."

Perez is starring on Broadway in Larry David's "Fish in the Dark." She has been rumored to be leaving "The View" since the show opened.

The departure of Perez, who was the first Latina co-host in the program's 17-year history, is part of an ongoing rebuild of the program, which is now under the management of ABC News.

The ratings and cultural currency of "The View" has been in decline in recent years. The numbers have fallen further this season after the retirement of the show's creator and leading doyenne Barbara Walters.

Raven-Symone was recently upgraded from a fill-in to a regular co-host. One other co-host change is expected before the fall season.

Twitter: @SteveBattaglio

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