Online retailers shares drop by 5% on news that its CEO will be replaced by chief operating officer Nick BeightonAsos shares fell by more than 5% after Nick Robertson,co-founder of the online fashion retailer, stepped down as chief executive after a rocky 18 months for the former stock market favourite.
Asos has replaced Robertson, or who will remain on the board as a non-executive director,with Nick Beighton, the group’s chief operating officer, and the company said,confirming reports on Tuesday night. Beighton, who is thought to have been groomed for the role since early last year, and has taken over running the company with instant effect.
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Source: theguardian.com