Ethan Allen Interiors Inc. announced significant changes to its executive leadership and Board of Directors on November 9, 2026. The company confirmed that M. Farooq Kathwari has resigned as President and Chief Executive Officer, effective immediately.
In response, the Board appointed Stefanie Tsen Ward as Interim Chief Executive Officer. Ms. Ward, age 46, currently serves as a fractional executive and advisor. Her previous roles include Executive Vice President, Chief Integrated Retail and Customer Officer at Neiman Marcus Group, where she oversaw approximately 70% of the company's revenue and more than 40 stores.
Ms. Ward has entered into an employment agreement effective November 9, 2026. Under this agreement, she will serve as Interim CEO for a six-month term. Her monthly base salary is set at $75,000. Additionally, she is eligible for a cash bonus with a target amount of $150,000 and a maximum of $250,000. She will also receive a grant of Restricted Stock Units with a total value of $200,000, with 50% vesting immediately and the remainder vesting upon the conclusion of her initial term.
The Board also appointed Douglas G. Bergeron as Executive Chairman. Mr. Bergeron, age 65, has served as President and sole shareholder of DGB Investment, Inc. since 2002. Previously, he was the Chairman and CEO of VeriFone Systems, Inc., where he grew revenues from under $300 million to nearly $2 billion. Mr. Bergeron has entered into an employment agreement for a four-year term. His base annual salary is $550,000, and he is eligible for an annual cash bonus ranging from 125% to 200% of his salary. Furthermore, he is entitled to an annual stock unit grant with a total target value of $2.5 million and a one-time grant of Performance Stock Units valued at $3.5 million.
Concurrent with these appointments, the Board increased its size from five to nine directors. The new directors include Anna Brockway, Lindsay O'Reilly, Adam Treanor, and Stefanie Tsen Ward. Kristine E. Miller was named Lead Independent Director.
