British online apparel retailer ASOS PLC said its founder, Nick Robertson, is stepping down as chief executive after 15 years in the CEO role. The company’s shares fell by more than 5% after the announcement before swinging higher by nearly 2%. Nick Beighton, who joined in 2009 as chief financial officer, was named CEO, effective immediately. “We suspect that Nick Robertson’s decision to retire has been on the cards for a while,” said retail analysts at Liberum in a note. “The succession will be orderly,” said Liberum, adding that doesn’t foresee “any sudden change in strategic direction.”
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