Asos CEO Steps Down 15 Years After Founding Fashion Retailer

Asos Plc, the U.K.’s largest online-only fashion retailer, said Chief Executive Officer Nick Robertson will step down 15 years after he co-founded the business, as the company moves to the next phase of its development.

Robertson will be succeeded by Chief Operating Officer Nick Beighton in a move that most analysts said wasn’t a surprise given Beighton’s increasing role within the company. The CEO will remain as a non-executive director, Asos said.