Yes, the figurehead is a representation of George Brydges Rodney. At the end of the American War of Independence, he was the most famous officer in the Royal Navy. This was on account of his victory over the French under the Compte de Grasse at the Battle of the Saintes on 12th April, 1782. This victory was the most celebrated naval victory of that war, only seven months before, the British had lost the war in North America and it prevented the French from driving the British from their Caribbean possessions too. After that battle, Rodney was widely feted and was richly rewarded by a grateful nation. Never a particularly healthy man, Rodney was outlived by many of his contemporaries and the likes of the Hood brothers, Sir John Jervis and Lord Howe went on to further distinguish themselves in the French Revolutionary and Napoleonic Wars.
I would guess that the figurehead itself was damaged in storage but I'm sure someone more knowledgeable than I will correct that if it`s not true.
