Doug Bergeron, a significant shareholder of Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETD) with beneficial ownership, collectively with his affiliates and associates, of approximately 5.2% of Ethan Allen’s outstanding common stock, today announced that his director nominees, if elected, intend to recommend that the Company’s Board of Directors (the “Board”) appoint Stefanie Tsen Ward as interim Chief Executive Officer of Ethan Allen following the Company’s 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Ms. Ward is one of Mr. Bergeron’s five existing director nominees seeking election at the Annual Meeting.

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Stefanie Tsen Ward

Stefanie Tsen Ward

Ms. Ward is a seasoned operating executive with deep experience at leading global luxury retail brands. Most recently, as Chief Integrated Retail and Customer Officer at Neiman Marcus Group, she led the $4.5 billion retailer’s transformation into a more profitable, customer-led omnichannel enterprise, overseeing approximately 70% of total company revenue, more than 40 stores and 6,000 associates. During her tenure, she restored customer growth and improved store level profitability, while also scaling Neiman Marcus’ associate-led remote selling into a $1 billion business. She previously held senior roles at Sephora, where she oversaw in-store digital tools and omnichannel services, and at Louis Vuitton, where she served as General Manager of Canada.

Consistent with Mr. Bergeron’s plan to transition leadership and restore profitable growth at Ethan Allen, if his slate is elected, Ms. Ward would assume responsibility for day-to-day operations immediately following the 2026 Annual Meeting, while the reconstituted Board executes a disciplined first 100-day plan focused on validating the key assumptions and economics underlying the Company’s strategic direction and completing a rigorous search for a permanent CEO. Ms. Ward would work in close partnership with Mr. Bergeron, whose experience as a public company CEO and operator would complement her deep retail expertise. As previously announced, Ethan Allen’s Chairman, President and CEO Farooq Kathwari would be offered a non-voting advisory role as Chairman Emeritus during the planned leadership transition.

Mr. Bergeron commented, “Stefanie has spent her career driving multi-billion-dollar P&Ls, overseeing thousands of employees, and modernizing iconic retail brands through the integration of digital and in-store experiences – precisely the expertise required to revitalize Ethan Allen. She knows the Company, she knows our plan, and she is prepared to lead from day one. Stefanie is an exceptionally qualified interim CEO candidate who is equipped to do right by Ethan Allen’s shareholders and employees.

“Notably, all three leading independent proxy advisory firms have recommended removing Farooq Kathwari from the Board and raised serious concerns about Ethan Allen’s leadership and oversight. Yet under the incumbent Board’s plan, Mr. Kathwari would remain CEO until mid-2027 and on the Board thereafter. The same directors who failed to hold him accountable for years of declining performance and only initiated a CEO search after our campaign began would select his successor. After years of underperformance and reactive succession planning, shareholders should not be asked to entrust Ethan Allen’s future to the same leadership structure that has failed them. From November 4, our nominees would serve as a highly engaged Board, ensuring continuity while delivering early wins in our customer-first transformation. Each of us is ready to roll up our sleeves and support Stefanie and the entire Ethan Allen team.”

Ms. Ward added, “Ethan Allen is an iconic American brand with incredibly talented associates and a heritage of craftsmanship few furniture companies can match. My priority from day one will be execution: connecting the Company’s design centers and digital channels into a seamless customer experience, empowering our associates with the tools to deliver, and holding the business accountable for profitable growth. I am proud to have the confidence of Doug and my fellow director nominees, and I am ready to work alongside the Company’s leadership team, design center teams, and manufacturing workforce to restore this great brand for employees, customers, and shareholders.”

Mr. Bergeron and his nominees have outlined a disciplined first 100-day plan designed to ensure operational continuity, establish clear accountability and lay the foundation for sustained profitable growth. As interim CEO, Ms. Ward would oversee day-to-day operations and collaborate with a temporary Strategy and Transformation Committee comprising all five directors, with priorities including:

  • Ensuring stability across all business functions, building on the Company’s existing operational leadership while assessing where capabilities need to be strengthened;

  • Establishing the facts, setting priorities and moving quickly on the highest-confidence actions;

  • Challenging the status quo across customer, brand, product, digital, stores, manufacturing, technology, talent and capital allocation;

  • Setting clear owners, KPIs and milestones for each initiative and demanding results; and

  • Giving the Board full access to the Company’s people, data and economics to define the mandate for the permanent CEO.

Additional materials related to Mr. Bergeron’s campaign, including video interviews with his five director candidates, may be found at www.EthanAllenGrowth.com. Shareholders are encouraged to follow the campaign’s LinkedIn and X pages to stay informed in real time.

PROTECT YOUR INVESTMENT. RENEW AN AMERICAN ICON. VOTE FOR ALL FIVE DGB NOMINEES ON THE WHITE UNIVERSAL PROXY CARD TODAY

Shareholders with questions on how to vote their shares may visit www.EthanAllenGrowth.com/How-To-Vote.

ADDITIONAL INFORMATION

DGB Investment, Inc. and Douglas G. Bergeron, together with the other participants in their solicitation (collectively, “DGB”), have filed a definitive proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit proxies with respect to the election of DGB’s slate of highly qualified director candidates and the other proposals to be presented at the 2026 annual meeting of stockholders (the “Annual Meeting”) of Ethan Allen Interiors Inc., a Delaware corporation (the “Company”). Stockholders are advised to read the proxy statement and any other documents related to the solicitation of stockholders of the Company in connection with the Annual Meeting because they contain important information, including information relating to the participants in DGB’s proxy solicitation. These materials and other materials filed by DGB with the SEC in connection with the solicitation of proxies are available at no charge on the SEC’s website at http://www.sec.gov. The definitive proxy statement and other relevant documents filed by DGB with the SEC are also available, without charge, by directing a request to DGB’s proxy solicitor, Okapi Partners LLC, at its toll-free number (877) 285-5990 or via email at info@okapipartners.com.

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