Treasury Wine CEO who led 'extraordinary transformation' retires, shares tumble
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(Reuters) - Australia's Treasury Wine Estates Ltd (TWE) on Monday said "transformative" Chief Executive Michael Clarke would retire in early fiscal 2021, a surprise move which sent shares of the world's biggest standalone winemaker down more than 12%.Clarke, whose turn at the helm saw Treasury stock surge fivefold, took over in 2014 when he was tasked with turning around fortunes after strained profit, weak China sales and cost troubles had stoked speculation of a takeover.What followed was a..