Phil Spencer retires as Microsoft reshapes Xbox leadership

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Microsoft announced a major change in its gaming division on Friday as Phil Spencer revealed he is retiring after a 38-year career at the company. Spencer’s departure comes at a turbulent time for the brand, with Xbox hardware sales reportedly down 32% in the most recent quarter, and overall gaming revenue falling 9%.

The leadership shakeup is compounded by the unexpected resignation of Xbox President Sarah Bond, who was once considered Spencer's natural successor.

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