* CEO says Kate Bostock feels ASOS "not for her"
* CEO says no row, no payoff
* Shares down 1.3 pct
By James Davey
LONDON, July 16 (Reuters) - Kate Bostock, one of the biggestnames in Britain's retail industry, has quit ASOS afterjust seven months, deciding the fast-growing online fashion firmwasn't for her.
Bostock, who started at ASOS as executive director ofproduct and trading in January after eight years at Britain'sbiggest clothing retailer Marks & Spencer, has resignedand will leave the firm immediately, it said on Tuesday.
Shares in ASOS, which have more than doubled in value overthe last year, were down 1.3 percent to 4,420 pence at 1100 GMT,valuing the business at 3.6 billion pounds ($5.5 billion).
ASOS founder and Chief Executive Nick Robertson said therehad not been any row and Bostock would not receive a payoff.
"For a number of reasons she feels it's not for her, sorather than prolong it we just decided to call it a day. You trythese things, sometimes it works, sometimes it doesn't," he toldReuters, adding that Bostock was at his side.
"We're doing well and there's lots of good stuff happeninghere so it's harder for someone to break into that," he said.
Bostock declined to comment on the phone but said in astatement: "ASOS is a formidable business and I have greatrespect for the team I have been working with: they are right atthe cutting edge of young online fashion. Sadly, I've concludedthat ASOS isn't the right place for me."
Robertson had courted Bostock for a year while she was atM&S, seeking an executive to steer the firm's next growthphase.
"ASOS spent a very long time courting her, so the volte facetoday is embarrassing for both parties, but the transition froma 'big company' culture to a young, entrepreneurial company wasalways going to be a big ask," said independent retail analystNick Bubb.
Launched in 2000 and floated on London's junior AIM market ayear later, ASOS is one of the biggest success stories ofBritish retailing in recent times. It is targeting 1 billionpounds of annual sales by 2015.
The firm, which targets young women looking to emulate thedesigner looks of celebrities like Nicole Scherzinger and CaraDelevingne, has been expanding overseas as its home marketstarts to mature.
Last month it posted a 45 percent rise in third quarterretail sales.
ASOS said Bostock's role would be fulfilled by the existingretailing team while the board considers whether there is a needto seek a replacement.
Marks & Spencer (MKS)
