{"id":1004860,"date":"2026-09-21T14:03:02","date_gmt":"2026-09-21T18:03:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\/"},"modified":"2026-09-21T14:03:02","modified_gmt":"2026-09-21T18:03:02","slug":"doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\/","title":{"rendered":"Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d"},"content":{"rendered":"

<\/p>\n

Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d<\/b><\/p>\n

Contested Director Election Now Poses a Fundamental Governance Question: Which Director Slate Should Shareholders Trust to Select and Oversee Ethan Allen\u2019s Next CEO?<\/i><\/p>\n

Reiterates Independent CEO Search Led by Highly Qualified Alternative Slate of Director Candidates Already Underway<\/i><\/p>\n

PARK CITY, Utah–(BUSINESS WIRE<\/a>)–
\nDoug Bergeron, a significant shareholder of Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETD) with beneficial ownership, collectively with his affiliates and associates, of 5.2% of Ethan Allen\u2019s outstanding common stock, today issued the following statement in response to the Company’s September 21, 2026 announcement of a CEO succession process:<\/p>\n

\n\u201cEthan Allen\u2019s September 21, 2026 recognition that the Company needs new leadership is too little, too late. Questions about CEO succession have hung over Ethan Allen for more than a decade. The Company\u2019s Board of Directors (the \u2018Board\u2019) had years to develop a thoughtful succession plan. Yet only when pressured by our campaign did the Board\u2019s \u2018plan\u2019 suddenly come to light. This last-ditch announcement is an abject failure of governance, and continues a pattern of rash and reactionary maneuvers by the Board following the Company\u2019s special dividend declared last month.<\/p>\n

\n\u201cThe chronology is difficult to ignore. On August 7, Chairman and CEO Farooq Kathwari stated publicly that succession was an issue the Board had \u2018never raised.\u2019 On September 10, we announced that our alternative slate of director candidates had launched an independent CEO search. The next day, Ethan Allen filed its preliminary proxy statement without disclosing a formal CEO search or a specific transition timeline. Today, the Board describes an \u2018ongoing formal\u2019 process and says a search firm is already identifying and evaluating candidates. A credible succession process should not have needed a proxy contest to become visible to shareholders.<\/p>\n

\n\u201cThe Board now says it needs a CEO to accelerate digital, omnichannel, and supply-chain execution \u2013 areas Farooq has spent years insisting Ethan Allen was \u2018well positioned\u2019 to address, and precisely the shortcomings our campaign has highlighted. A Board comprised of loyalists to Farooq, who repeatedly extended his tenure and increased his compensation while he presided over a shrinking, less competitive, and less valuable business, is utterly unqualified to select the next CEO of Ethan Allen. Shareholders should ask themselves whom they trust to identify the next CEO: the Board who failed to act until forced, or our nominees who made the Company act. In other words, are the directors who presided over Ethan Allen\u2019s shortcomings the right people to select the leader now charged with fixing them?<\/p>\n

\n\u201cIt is especially concerning that Farooq may continue to serve as Chairman and CEO throughout a succession process that, under the Board\u2019s own timeline, could run through June 30, 2027. Ethan Allen cannot afford nine more months of the same leadership while the incumbent Board manages a transition it should have commenced years ago. Two decades of deteriorating operating performance, culminating in the Company\u2019s disappointing fourth quarter and full year fiscal 2026 results, do not argue for patience \u2013 they underscore the cost of delay and the need for independent Board leadership now. Shareholders should not be fooled by claims of continuity and stability, which, in reality, means continued contraction and declines in sales, profits, and relevance.<\/p>\n

\n\u201cIt is time for a fresh start. Ethan Allen\u2019s next chapter requires a new Board that is capable of maximizing the Company\u2019s potential. We already have a CEO search underway, led by high-caliber nominees who have proven records of revitalizing brands while driving results and accountability, and who have the expertise needed to restore profitable growth at Ethan Allen. Ethan Allen shareholders deserve a board that is thoughtful, qualified to govern a modern retail business, and committed to working tirelessly on behalf of shareholders, not just when backed into a corner. If the current Board remains in control of the Company, shareholders should expect more of the same: incompetence and underperformance.\u201d<\/p>\n

\nFor more information on Mr. Bergeron\u2019s campaign, including the case for change and nominee biographies, shareholders are encouraged to visit www.EthanAllenGrowth.com<\/a>.<\/p>\n

ADDITIONAL INFORMATION<\/b><\/p>\n

\nDGB Investment, Inc. and Douglas G. Bergeron, together with the other participants in their solicitation (collectively, \u201cDGB\u201d), have filed a definitive proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission (\u201cSEC\u201d) to be used to solicit proxies with respect to the election of DGB\u2019s slate of highly qualified director candidates and the other proposals to be presented at the 2026 annual meeting of stockholders (the \u201cAnnual Meeting\u201d) of Ethan Allen Interiors Inc., a Delaware corporation (the \u201cCompany\u201d). Stockholders are advised to read the proxy statement and any other documents related to the solicitation of stockholders of the Company in connection with the Annual Meeting because they contain important information, including information relating to the participants in DGB\u2019s proxy solicitation. These materials and other materials filed by DGB with the SEC in connection with the solicitation of proxies are available at no charge on the SEC\u2019s website at http:\/\/www.sec.gov<\/a>. The definitive proxy statement and other relevant documents filed by DGB with the SEC are also available, without charge, by directing a request to DGB\u2019s proxy solicitor, Okapi Partners LLC, at its toll-free number (877) 285-5990 or via email at info@okapipartners.com<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260921560817\/en\/<\/a><\/span><\/p>\n

\nMedia Contact:
\n
DGB@gasthalter.com<\/a><\/p>\n

\nInvestor Contact:
\n
Bruce Goldfarb \/ Chuck Garske
\n
Okapi Partners
\n
(877) 285-5990
\n
info@okapipartners.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Utah<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d Contested Director Election Now Poses a Fundamental Governance Question: Which Director Slate Should Shareholders Trust to Select and Oversee Ethan Allen\u2019s Next CEO? Reiterates Independent CEO Search Led by Highly Qualified Alternative Slate of Director Candidates Already Underway PARK CITY, Utah–(BUSINESS WIRE)– Doug Bergeron, a significant shareholder of Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETD) with beneficial ownership, collectively with his affiliates and associates, of 5.2% of Ethan Allen\u2019s outstanding common stock, today issued the following statement in response to the Company’s September 21, 2026 announcement of a CEO succession process: \u201cEthan Allen\u2019s September 21, 2026 recognition that the Company needs new leadership is too little, too … <\/p>\n

Continue reading “Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1004860","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDoug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d Contested Director Election Now Poses a Fundamental Governance Question: Which Director Slate Should Shareholders Trust to Select and Oversee Ethan Allen\u2019s Next CEO? 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(“Ethan Allen” or the “Company”) (NYSE: ETD) with beneficial ownership, collectively with his affiliates and associates, of 5.2% of Ethan Allen\u2019s outstanding common stock, today issued the following statement in response to the Company’s September 21, 2026 announcement of a CEO succession process: \u201cEthan Allen\u2019s September 21, 2026 recognition that the Company needs new leadership is too little, too … Continue reading "Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-21T18:03:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20260921560817r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d\",\"datePublished\":\"2026-09-21T18:03:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/\"},\"wordCount\":932,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20260921560817r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/doug-bergeron-comments-on-ethan-allens-reactionary-succession-plan\\\/\",\"name\":\"Doug Bergeron Comments on Ethan Allen\u2019s Reactionary \u201cSuccession Plan\u201d - 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