Ethan Allen Interiors shareholders voted to remove Chairman and CEO Farooq Kathwari from the company’s board at its 2026 annual meeting, according to preliminary results announced Wednesday. The vote also appears to have removed Lead Independent Director David Sable and board member Cynthia Ekberg Tsai.
Doug Bergeron, who owns about 5.2% of Ethan Allen with affiliates, said shareholders elected him, Kristine Miller and Steve Oblak. Their election gives Bergeron and his allies a board majority, based on the preliminary results.
Bergeron said the new board will focus on CEO succession, governance changes and a plan to restore profitable growth. He also said he would work with Kathwari to support an orderly transition for the company’s employees, customers and partners, while recognizing Kathwari’s decades of service.
The changes follow a proxy contest at the furniture retailer. Ethan Allen has not confirmed the outcome, and the preliminary voting results have not been finalized.
Sources: Investing.com News.