At Microsoft's big Xbox all-hands meeting, leaders paid tribute to the team, Sarah Bond, Phil Spencer, and the future — "We are going to start with console, and make sure that we understand that this is our reference experience."

Xbox CEO Phil Spencer is on the road to retirement, and will spend the next few months mentoring new CEO Asha Sharma.

Last week, Microsoft went ahead with its planned all-hands meeting to discuss Phil Spencer's retirement, and to introduce new CEO Asha Sharma. The meeting took place in the main Xbox building lobby at its Redmond campus, a site often frequented by outgoing CEO Phil Spencer and other Xbox leaders. It's in this area where various big meetings and announcements are typically made, to the team working directly at Microsoft and then live streamed more broadly to Microsoft's thousands of gaming employees.