07/07/2014 12:23 pm ET Updated Jul 07, 2014

Sherri Shepherd, Jenny McCarthy Explain Why They're Leaving 'The View'

Sherri Shepherd and Jenny McCarthy talked about their departures from "The View" on Monday's show.

Monday's episode of "The View" was their first live show since news of their exits broke last month.

Shepherd said Monday that she felt it was time to move on after seven years as a co-host. “Seven in the Bible is the number of God's completion,” she remarked. “And I've been here seven years and my time at ‘The View' is complete.”

She also said the show's producers have known about her plan since earlier this year, but that she did not want to bring that or anything going on in her personal life up and distract from Barbara Walters' retirement.

“I love the cast and crew who took me in and made me feel like this is my family,” Shepherd added, tearing up.

Meanwhile, McCarthy — who just joined "The View" last fall — confirmed that she is also leaving and teased a new gig. “After much consideration, I've taken a new job that will allow me to do what I do best, which is talk without having to interrupt anyone,” she said. “I will be announcing it in the next few weeks and I couldn't be more grateful. Stay tuned, even if it does compete with ‘The View.'”

Their exits are the latest shakeup during what has been a turbulent year for the show. Whoopi Goldberg is the only remaining co-host of the daytime chatfest. Walters, who created "The View," retired earlier this year, and Joy Behar and Elisabeth Hasselbeck left the previous season.