After nearly 40 years at Microsoft, Xbox chief and Microsoft Gaming CEO Phil Spencer is leaving the company, along with Xbox president Sarah Bond. Spencer’s retirement was announced in a memo from Microsoft CEO Satya Nadella on February 20th, stating, “Last year, Phil Spencer made the decision to retire from the company, and since then we’ve been talking about succession planning.” Tom Warren has more here on how it all went down, and why the news arrived when it did.

Last summer, Microsoft responded to rumors of Spencer’s retirement, saying at the time that he was “not retiring anytime soon.” Microsoft’s CoreAI president, Asha Sharma, will be moving into Spencer’s former role as Microsoft Gaming CEO, while Matt Booty is being promoted to EVP and chief content officer.

Follow along below for the latest updates on Microsoft’s Xbox leadership changes

• Inside Microsoft’s big Xbox leadership shake-up
• Read Xbox president Sarah Bond’s memo about leaving Microsoft.
• Microsoft says today’s Xbox shake-up doesn’t mean game studio layoffs
• Xslop?
• Read Microsoft gaming CEO Asha Sharma’s first memo on the future of Xbox
• Read Xbox chief Phil Spencer’s memo about leaving Microsoft
• Xbox chief Phil Spencer is leaving Microsoft
• Sarah Bond is leaving Xbox