In a recent interview, the Dalai Lama has expressed his opinion that he should be the last leader of Tibetan Buddhism.
He has decided that the institution "served its purpose" and that Tibetan Buddhism is "not dependent on one individual."
In a more joking manner, he talked about going out on a high note. Because of his popularity and worldwide respect, he'd much rather be the last religious leader than to have the last Dalai Lama be a dud (I paraphrase...)
This tradition has been practiced for nearly 5 centuries, but perhaps the reign of the Dalai Lama is coming to its end.