Agent Provocateur chief exec in talks about future at retailer, report says

Agent Provocateur chief executive Fabrizio Malverdi is reportedly in talks about his future with the high-end retailer following recent efforts to turn the business around.

That’s according to a Sky News report which claimed that the lingerie chain boss is holding discussions with majority shareholder 3i Group and other directors about his future with the company once a new investor is secured.

The report announced that unnamed sources close to 3i denied suggestions that Malverdi told board members he planned to step down, but did admit to talks about his position.

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The news comes after it was signalled that the lingerie firm faced being auctioned off following 3i’s hiring of restructuring firm Alix Partners to turn the struggling business around.

Chris Woodhouse recently stepped down as chairman of Agent Provocateur amid an inquiry into “accounting issues”.

The boardroom changes are understood to have taken place in recent weeks, and come after a difficult trading period for the prominent manufacturer, which 3i acquired in 2007.

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