Headlines

Ethan Allen Board Details its CEO Succession Plan

Activist investor calls move “too little, too late” as proxy fight looms.

Published

2 hours ago

September 24, 2026

VMSD

Proxy fight photo illustration: Feodora Chiosea/iStock by Getty Images

Ethan Allen Interiors Inc. (Danbury, Conn.) has unveiled what it calls its board’s “ongoing formal CEO succession process,” which involves using an executive search firm to identify and evaluate both internal and external candidates. The board also committed to announcing the chosen executive no later than June 30, 2027, the date on which longtime CEO Farooq Kathwari’s current contract is scheduled to end.

The move comes after activist investor David Bergeron has launched a proxy fight that includes asking Ethan Allen shareholders replace the current board with candidates of his choosing in an effort to revitalize the home-furnishing brand. As previously reported by VMSD.com sister site Shop!.com, those new directors would be charged with selecting a new CEO.

In its coverage of the latest development, Furniture Today noted it had obtained a statement from Bergeron calling the move “too little, too late” and questioning whether the current board should be entrusted with choosing the next occupant of the company’s corner office.

“The competing approaches to succession add another dimension to an already contentious proxy fight,” FT noted. “… As the campaign moves forward, the argument is increasingly becoming about more than who should run Ethan Allen. It is also about who shareholders trust to choose the person who runs it next.”

A date for the annual shareholder’s meeting at which Bergeron’s proposals will be voted on has not yet been set. In past years, such sessions have taken place in early November.

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