Johnny Carson’s departure from the “Tonight” show was an abdication.

Jay Leno’s last show, on Thursday, was closer to a retirement party, a bittersweet send-off for a loyal executive pushed out after 22 years.

“It’s fun to kind of be the old guy and sit back here and see where the next generation takes this great institution,” Mr. Leno said about his successor, Jimmy Fallon.

More gamely than convincingly, he added, “But it really is time to go and hand it off to the next guy, it really is.”

A Star Studded Sendoff

Jay Leno’s final night as host of “The Tonight Show” was a memorable one, filled with surprise guests.

There was a pre-taped montage of fake inspirational advice from stars like Steve Carell, Olivia Wilde, Martha Stewart, Kevin Bacon, Miley Cyrus, Charlie Sheen and even President Barack Obama.

But then, there was a live, musical tribute organized by Leno’s final guest Billy Crystal. Kim Kardashian, Oprah Winfrey, Jack Black, Carol Burnett and others all helped out.

A Heartfelt Goodbye

Jay Leno signed off as host of “The Tonight Show” one last time Thursday and it was an emotional goodbye.

“Boy, this is the hard part,” Leno said as he closed out the show.

“I want to thank you, the audience. You folks have been, just, incredibly loyal … Secondly, this has been the greatest 22 years of my life.”

Jay went on to thank his staff, noting that the people he worked with were like family. He ended his sign-off by quoting Johnny Carson, bidding his audience a “heartfelt goodbye.”