SUPREME COURT JUSTICE JOHN PAUL STEVENS RETIRING

Justice John Paul Stevens officially announced today, Friday, that he is retiring as Justice of the Higher Court of the land.

Justice Stevens, 89, joined the Supreme Court in 1975 during the presidency of President Gerald Ford and has been serving his country from his enlistment before the day of the Pearl Harbor to his long and distinguished tenure in the Supreme Court with honor, humility and as impartial guardian of the law.

Stevens said he will step down as soon as the court finishes its work for the summer in late June or early July. He said he hopes his successor is confirmed "well in advance of the commencement of the court's next term."

Speaking to reporters in the Rose Garden after returning from a trip to Europe, President Obama offered ample praise for Stevens and promised to move quickly to replace him.

"While we cannot replace Justice Steven's experience and wisdom, I will seek someone in the coming weeks with similar qualities: an independent mind, a record of excellence and integrity, a fierce dedication to the rule of law and a keen understanding of how the law affects the daily lives of the American people." Obama said.

Potential nominees are 7th Circuit Appeals Court Judge Diane Wood, 59; Solicitor General Elena Kagan, 49; and D.C. Circuit Appeals Court Judge Merrick Garland, 57.

Possible contenders are State Department Legal Adviser and Former Yale Law Dean Harold Koh, 55, who would also become the Supreme Court's First Asian-American Justice and Cass Sunstein, 55, a longtime Constitutional Law Professor now overseeing the federal government's regulation-approval unit at the Office of Management and Budget.