Joe Corré, the co-founder of Agent Provocateur, has quit the upmarket lingerie firm.
Joe Corré, who is the son of designer Vivienne Westwood and ex-Sex Pistols manager Malcolm McLaren, stepped down from the board on Friday, 15 years after he founded the label with his then wife Serena Rees.
“As is often the case when a founder ceases to be in full control of a business, Joe wanted to pursue new challenges”
Garry Hogarth, chief executive, Agent Provocateur
Agent Provocateur said Corré had quit to pursue new challenges because he was no longer in full control of the business.
Corré sold a significant chunk of his shares in the firm to private equity house 3i in 2007 but he retained a stake in the business after the deal and he is not expected to offload his remaining shares.
Agent Provocateur chief executive Garry Hogarth said: “As is often the case when a founder ceases to be in full control of a business, Joe wanted to pursue new challenges and will be focusing on other projects including [his London menswear indie] A Child of the Jago.”
He added: “We are still on good terms with Joe. When he left he wished all the staff well, particularly because he still holds a sizeable stake in the business.”