Huge shakeup at Xbox as CEO and president both leave

Xbox is making big changes at the very top of the corporate ladder.

IGN reported the bombshell news on Friday afternoon that Microsoft Gaming CEO Phil Spencer is retiring, effective on Monday, Feb. 23. On top of that, Xbox president Sarah Bond, who recently confirmed some important details about the next Xbox console in an interview with Mashable, has also resigned from the company. Spencer had been a top dog at Xbox since the mid-2010s, overseeing the brand's shift into a subscription-based business with Game Pass.