Winkworth sues chair Simon Agace over alleged plot with wife to oust son from board

Published Aug 7, 09:02 AM UTC

London estate agent Winkworth has launched High Court proceedings against its chair, Simon Agace, accusing him of breaching his contract and director duties under the Companies Act. The dispute stems from an alleged plot by Agace and his wife, Irene Ho Kim Lee, to oust all directors from the board except Agace himself, including his son and current CEO Dominic Agace. At the company's annual meeting in May, Irene used her 34% voting power to attempt the ouster. Since then, Agace has demanded a board overhaul and threatened a shareholder meeting to remove board members if his demands are not met. Winkworth has sought an interim injunction to prevent Agace from sharing confidential information and using family voting power to change leadership. The company declined further comment due to ongoing legal proceedings. Winkworth shares fell 1% on the news.