UNIVERSAL CITY, Calif. – It's official. Jay Leno is stepping down and Jimmy Fallon is taking over "The Tonight Show" and moving it back to New York City.
NBC announced the switch today, saying that Leno will retire from the show in the spring of 2014.
Leno hosted the show since taking over for Johnny Carson in 1992.
When Jimmy Fallon takes over "The Tonight Show:, Lorne Michaels of "Saturday Night Live" will be the executive producer.
Following NBC's announcement, Fallon said: "I'm really excited to host a show that starts today instead of tomorrow."
Jay Leno also responded saying: "Congratulations Jimmy. I hope you're as lucky as me and hold on to the job until you're the old guy. If you need me, I'll be at the garage.”