Doug Bergeron Comments on Preliminary Results Indicating Election of New Board Majority at Ethan Allen
Bergeron plans to work with Farooq Kathwari on an orderly transition for Ethan Allen’s employees, customers and partners.
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Preliminary Results Indicate Election of Mr. Bergeron, Kristine Miller and Steve Oblak and Removal of Chairman and CEO Farooq Kathwari, Lead Independent Director David Sable and Cynthia Ekberg Tsai
New Board Majority to Prioritize CEO Succession, Stronger Corporate Governance and a Disciplined Plan to Restore Profitable Growth
“Today marks a new chapter in Ethan Allen’s storied history. Throughout this campaign, we asked shareholders to give us the mandate to restore accountability, revitalize the business and return Ethan Allen to profitable growth. Based on the preliminary results, shareholders have delivered that mandate. Trust is fundamental to any successful business, whether between shareholders and the Board or employees and their leadership, and we intend to earn and maintain that trust every day.
“Our focus now shifts from making the case for change to delivering it. We look forward to working constructively with our fellow directors to create lasting value at this iconic American brand. We will also work with Mr. Kathwari to ensure an orderly transition for Ethan Allen's employees, customers and partners. We recognize and appreciate his decades of service to the Company and the role he has played in building Ethan Allen into the brand it is today.
“To Ethan Allen's employees, thank you for your dedication to this Company and the central role you play in upholding its legacy. Our goal is to build on Ethan Allen's strengths and provide the leadership, resources and strategic direction required to empower you to do your best work. We will bring a high level of energy and determination to the boardroom, and we expect to be judged by our results. We are ready to get to work.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20261104065534/en/
Media Contact:
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Investor Contact:
Bruce Goldfarb / Chuck Garske
Okapi Partners
(877) 285-5990
info@okapipartners.com
Source: On Behalf of Doug Bergeron