What happens when you go to remove account on the XBox One?

I want to put my e-mail on my main XBox account and put my father's out there.

If you go to "Remove Account", can you add a new email or will the account be deleted?

The account is then removed from the console as described, not deleted.

The data is still stored at Microsoft.

If you want to change the email of the account, log into your account via a browser (PC, taplet, smartphone) on the Microsoft homepage. At the top right you can edit your profile.