Phil Spencer and Sarah Bond are out.

Former Xbox president Sarah Bond thanked former CEO Phil Spencer and congratulated his successor, Asha Sharma, in a

Much of the spotlight has been on Phil Spencer and new Xbox boss Asha Sharma in relation to today's huge shakeup over at Microsoft Gaming - but thanks to a departing statement from Phil himself, we now know for sure that Xbox President Sarah Bond is also leaving the company.

After over 20 years at Xbox, Phil Spencer, the face of the brand for more than a decade, has announced he’s retiring from the company. Sarah Bond, the president at Xbox, is also out and Asha Sharma, the president of Microsoft’s CoreAI product, is taking over as CEO of Microsoft Gaming.

Sarah Bond, the president of COO and Xbox, is leaving the organization, along with CEO of Microsoft Gaming Phil Spencer. Her departure is being announced at the same time as Spencer’s, with Asha Sharma moving into the EVP and CEO of Gaming role and Matt Booty being promoted to EVP and chief content officer.