Queen Elizabeth‘s eldest grandson Peter Phillips and his wife Autumn haveannounced that they are divorcingafter 12 years of marriage, the couple confirmed Tuesday.

“They had reached the conclusion that this was the best course of action for their two children and ongoing friendship,” a spokesman for the couple said. “The decision to divorce and share custody came about after many months of discussions and although sad, is an amicable one.

“The couple’s first priority will remain the continued well being and upbringing of their wonderful daughters Savannah and Isla. Both families were naturally sad at the announcement, but fully supportive of Peter and Autumn in the joint decision to co-parent their children.”

The pair will share custody of their two daughters, Savannah, 9, and Isla, 7. Their spokesman confirms to PEOPLE that they separated last year and informed the Queen and other members of the family of their decision then.

Princess Anne’s son, 42, is the first of his generation of royals to separate from his spouse, adding yet another sad episode for the Queenin recent months.

Peter Phillips and Autumn Phillips

Dave Benett/Getty

Peter Phillips and Autumn Phillips

Despite the split, Autumn, a Canadian, will remain in Gloucestershire in the U.K. “to bring up their two children.” The south west English county is “where they have been settled for a number of years,” according to the statement.

Peter, a sports marketing consultant, met Autumn, a management consultant, in 2003 in her hometown of Montreal at the Formula One Grand Prix. They wed at St. George’s Chapel at Windsor Castle in 2008.

Samir Hussein/WireImage

Queen Elizabeth II, Prince Charles, Prince of Wales, Autumn Phillips

Can’t get enough ofPEOPLE‘s Royals coverage?Sign up for our free Royals newsletterto get the latest updates onKate Middleton,Meghan Markleand more!

The couple’s two children are close to their cousins,Prince GeorgeandPrincess Charlotte. They are often seengoofing off together at royal events. Savannah memorablycovered George’s mouthwhile on the balcony of Buckingham Palace during Trooping the Colour in 2018.

The story first of Peter and Autumn’s split emerged inThe Sunnewspaper late Monday.

Buckingham Palace did not respond to PEOPLE’s request for comment.

source: people.com