What does the cryptic crossword clue "Producer of Bond cutting introduction: it's rotten (4)" mean?

The definition is "rotten". The wordplay uses a deletion. POXY (deletion) = POXY; definition: "rotten" The answer is POXY.

Producer of Bond cutting introduction: it's rotten (4)

Guardian Cryptic #28984 | 6 Down | 2023-02-03 flower