Xbox responds to rumors CEO Phil Spencer is retiring after next-gen console release

Following the mass Xbox layoffs currently underway at many studios under the Xbox Game Studios banner, rumors began circulating that longtime head of Xbox, Phil Spencer, was stepping down from his role as CEO of Xbox.

The rumors can be traced back to TheGhostofHope, who wrote that Spencer was set to retire from his role as Microsoft Gaming CEO after the launch of the next-generation Xbox console. TheGhostofHope claimed this was an exclusive piece of news, and that Spencer was currently working with Sarah Bond and her team to ensure a smooth transition for her to take over as CEO of Microsoft Gaming once Spencer has officially retired.

The GhostofHope also wrote that it was currently unclear who would take over as President of Xbox when Bond became CEO. However, those rumors have now been put to bed as Kari Perez, head of Xbox communications, provided a statement to The Verge, saying, "Phil is not retiring anytime soon." Microsoft didn't directly comment on the rumors, but Frank Shaw, Microsoft's communications chief, took to X to claim that the rumors were simply made up.

Spencer has been at the helm of the Xbox division since he took over in 2014, and throughout his tenure he has overseen some of the biggest moves by the company, such as the acquisition of Activision Blizzard, ZeniMax Media, and the push into Xbox Game Pass, along with the release of the Xbox Series X/S consoles.

TheGhostofHope has even doubled down on the rumored information, writing that he is "not trolling" and that "I just post stuff I hear from trusted sources and don't mind if I end up getting it wrong."