All Three Leading Independent Proxy Advisory Firms Agree Leadership Change Is Desperately Needed at Ethan Allen
Activist Doug Bergeron (5.2% holder via DGB) announced that ISS has joined Glass Lewis and Egan-Jones in recommending the removal of Ethan Allen Chairman/CEO Farooq Kathwari and lead independent director David Sable ahead of the November 4, 2026 annual meeting. ISS cited prolonged share-price underperformance, revenue contraction, margin compression, weak digital adaptation, and reactive CEO succession planning, while Bergeron argues ISS' recommended outcome still leaves three incumbent directors in control of the five-member board.
Key figures
- Activist stake
- 5.2%
- Board members up
- five-member Board
- Special dividend
- $3.00 per share
- Annual meeting date
- November 4, 2026
AI analysis
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