Strategy & Operations » Governance » Former FD Chris Woodhouse quits as Agent Provocateur chairman amid accounting probe

THE FORMER FD and deputy CEO of Homebase Chris Woodhouse has left the chair role at Agent Provocateur, amid an accounting inquiry.

Chartered accountant Woodhouse, who helped turn around Homebase and sell it to former retail conglomerate GUS in 2002, has reportedly left the board at the upmarket lingerie brand as concerns grow over the company’s profitability.

Woodhouse, who is also CEO at the RAC breakdown recovery service, has handed over his role to Ian Lobley, a partner at 3i Group, which is a majority shareholder in Agent Provocateur.

The former finance director, who was named FD of the Year in the 2002 Accountancy Age Awards, is said to have left the business, whose celebrity models include the likes of Kate Moss, in the past few weeks.

The boardroom changes follow a difficult trading period for Agent Provocateur, which 3i Group bought in 2007.

Presently Woodhouse remains on the board as a non-executive director, and his departure as chairman is understood to be due to the amount of time required to improve the business’s performance.