Barbara Walters exits The View

Photo: The Canadian Press. All rights reserved.

This Wednesday, March 26, 2014 photo provided by ABC shows, co-host Barbara Walters on "The View," during the career celebration all season featuring “The Year of Barbara,” a look back at many of her most notable interviews, originally featured on ABC’s “20/20."  (AP Photo/ABC, Lou Rocco)

Barbara Walters plans to make her final appearance on "The View" on May 16, part of a daylong retirement celebration that will include ABC News naming its New York headquarters after her.

Later that night, ABC will air a two-hour prime-time special on her career. Walters, who is 84, began in television in 1961 and became the medium's best-known interviewer. She announced last year that she will retire from regular TV appearances.

Walters will remain involved behind the scenes as an executive producer at "The View," the daytime talk show she invented.

ABC said Monday that Walters will also be a lifelong member of the ABC News team, and will make special appearances as news warrants.