Ethan Allen Interiors Shareholder Doug Bergeron Criticizes CEO Succession Plan
Ethan Allen Interiors (ETD) shareholder, Doug Bergeron, who owns 5.2% of the stock through beneficial ownership with affiliates, claimed on Monday that the board's announcement of a formal CEO succession plan on Sept. 21 was reactionary in nature as the decision arrived after his campaign nominated alternative director candidates and launched an independent CEO search on Sept. 10.While highlighting that the board's decision is "too little, too late," Bergeron noted that questions around CEO succession have hung over the company for over a decade, and it cannot afford to operate anymore under the same leadership.The shareholder recalled that CEO Farooq Kathwari had mentioned in August that succession was an issue the board had never raised, while adding that the board's disclosed timeline for the process could extend through June 30, 2027.He also highlighted decades of declining operating performance, pointing to the company's Q4 and fiscal 2026 earnings results.Ethan Allen Interiors did not immediately respond to a request for comment from.Price: $21.14, Change: $-0.27, Percent Change: -1.26%
