Ethan Allen shareholders vote to remove CEO Kathwari from board

Park City, Utah - At Ethan Allen Interiors Inc.'s 2026 annual meeting, shareholders have chosen to remove Chairman and CEO Farooq Kathwari from the board, according to initial results released on Wednesday. Doug Bergeron, who holds about 5.2% of the company's shares, along with his associates, secured board seats for himself, Kristine Miller, and Steve Oblak.

The preliminary vote also saw the expulsion of Lead Independent Director David Sable and board member Cynthia Ekberg Tsai, granting Bergeron and his supporters a majority on the board. Bergeron expressed that the new board will concentrate on CEO succession, enhancing corporate governance, and devising a strategy for regaining profitable growth.

In a statement, Bergeron cited the shareholders' mandate to restore accountability, rejuvenate the business, and steer Ethan Allen towards profitable expansion. Based on the preliminary results, shareholders have fulfilled that mandate. Bergeron pledged to collaborate with Kathwari for a seamless transition for the company's staff, customers, and partners, acknowledging the CEO's decades-long commitment to the organization.

The board reshuffle follows a proxy contest at the furniture retailer, with Bergeron stating that the new majority board will offer strategic guidance and leadership to the company's employees. However, the preliminary voting results remain unvalidated, and Ethan Allen has yet to make an official statement on the vote's outcome.