Microsoft just named Asha Sharma as its new Xbox CEO. Read the memos.

Microsoft's Asha Sharma and Matt Booty.

Microsoft

• Phil Spencer, the longtime head of Microsoft's gaming business, is retiring.
• Microsoft named Asha Sharma, an executive in its CoreAI group, as Spencer's replacement.
• Xbox's president, Sarah Bond, is leaving during the transition, and exec Matt Booty has been promoted.

Microsoft Gaming CEO Phil Spencer is retiring, according to an email to employees. Microsoft executive Asha Sharma will become the new executive vice president and CEO of Microsoft Gaming...