Phil Spencer will retire after 38 years at Microsoft; Asha Sharma, the president of product in Microsoft's Core AI business, will become the CEO of gaming

Microsoft's gaming chief Phil Spencer is retiring after 38 years, and will be replaced by Asha Sharma, former COO of Instacart. Spencer led the gaming division for 12 years, nearly tripling the business through acquisitions like Activision Blizzard. Sharma, who joined Microsoft in 2024, will focus on recommitting to Xbox fans and developers, emphasizing the importance of games as art.