Douglas Bergeron’s CEO search raises the stakes in his fight to reshape Ethan Allen’s board and leadership.
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An activist investor seeking control of Ethan Allen Interiors’ board has launched an independent search for a new CEO as his proxy fight with the Danbury-based furniture maker escalates.
Douglas Bergeron, who beneficially owns 5.2% of Ethan Allen’s outstanding shares, said he has hired an unnamed global executive search firm to identify potential successors to Chairman, President and CEO Farooq Kathwari.
Kathwari, 82, has led Ethan Allen for 38 years. Bergeron has criticized the company’s succession planning, strategy and financial performance.
Kristine Miller, a former eBay chief strategy officer and one of Bergeron’s board nominees, will lead the search with support from other members of the dissident slate. Bergeron said they are seeking candidates with experience in retail, consumer brands, digital commerce and corporate turnarounds.
The search does not give Bergeron or his nominees authority to replace Kathwari. Any CEO appointment would require board approval, and the board’s composition will depend on the outcome of Ethan Allen’s 2026 annual shareholder meeting.
Bergeron launched the proxy contest in August, seeking to replace the company’s directors. The campaign intensified after Ethan Allen declared a special cash dividend of $3 per share, representing a payout of roughly $76 million.
Ethan Allen has defended its leadership, investments and record of returning capital to shareholders. The company has said it plans to file its own proxy materials ahead of the annual meeting.
