Ethan Allen investor Bergeron nominates six directors, presses for strategy reset to restore growth at 2026 annual meeting
ETD•Bergeron launches board overhaul campaign
Activist investor Doug Bergeron, a 5% shareholder in Ethan Allen, launched a campaign to overhaul the board ahead of the 2026 annual meeting.
He nominated an alternative slate of six director candidates.
Bergeron argued the company has stalled under Chairman and CEO Farooq Kathwari.
He cited a drop in fiscal 2026 revenue to $579 million from $1.07 billion in 2006.
He pointed to $187.5 million of cash and investments with no debt.
He urged more spending on brand and digital capabilities while cutting non-core costs, such as operating a hotel.
He said the company has lagged peers on online traction, citing 420,000 monthly site views and less than 20% of traffic from paid search and social.
He said a reconstituted board could drive a leadership transition and triple shareholder value within three years.
