Theo Paphitis has uttered the two words all prospective entrepreneurs pitching their business ideas on the BBC's Dragons' Den fear the most. Businessman Theo Paphitis announces he is to leave the business show Dragon's Den after nine years of investing. No replacement has been announced. Jessops brand sold to Dragons' Den's Peter Jones. 31 January. Retail magnate Theo Paphitis has issued a statement saying he's leaving Paphitis replaced former Dragon Simon Woodroffe after the first. Cloud entrepreneur Piers Linney has been named as the replacement to outgoing investor Theo Paphitis on the BBC's Dragons Den. Touker Suleyman is a new addition to the Dragons' Den panel but it looks I see dragons den have replaced Theo Paphitis with an annoying. computing pioneer, and investment banker, Piers Linney has been named as the new member of the Dragons' Den, replacing Theo Paphitis. Theo Paphitis and Peter Jones are an irresistible combination - but what of the elusive Mrs P?. THEO Paphitis won't reveal exactly how many cars he owns — “Mrs P might the most likeable panellist on the BBC business show Dragons' Den, out after six months and Paphitis could not afford a replacement; he was. Cloud computing pioneer Piers Linney has been named as the new member of the Dragons' Den, replacing Theo Paphitis. Linney, the joint.