by Executive has been with the company 46 years, as president since 1985 and as board chairman and chief executive officer since 1988
DANBURY, Conn. — Ethan Allen’s longtime Chairman, President and CEO Farooq Kathwari is no longer with the company and has been replaced by interim CEO Stefanie Tsen Ward.
The move ends the tenure of one of the longest serving and revered executives in the industry, who has been with the company for more than 46 years, starting as vice president in 1980. He was promoted to executive vice president in 1983 and became president in 1985. From 1988 to November 2026 he was board chairman and chief executive officer.
Investor Doug Bergeron has sought to remove Kathwari from his role for some time in response to declining revenues and market share at the retailer and manufacturer.
In a statement issued by Bergeron on Tuesday, Bergeron described Ward as a seasoned operating executive and former chief integrated retail and customer officer of Neiman Marcus Group.
“At Neiman Marcus, Ms. Ward 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,” the statement read. “She will oversee Ethan Allen’s day-to-day operations and begin execution of its strategic reset while the board conducts a rigorous, independent search for a permanent CEO.”
On Nov. 9, the board announced it has also appointed Anna Brockway, Lindsay O’Reilly, Adam Treanor and Stefanie Tsen Ward as directors. They join Douglas G. Bergeron, Maria Eugenia Casar, Kristine E. Miller, Steve Oblak and Tara I. Stacom, who were elected to the board at the company’s 2026 Annual Meeting of Stockholders. In addition, Bergeron and Miller have been named executive chairman and lead independent director, respectively.
“Today marks Day One of our 100 day plan,” Bergeron said in a statement. “Every one of our new directors are working on the ground in Danbury rolling up their sleeves with management to identify early wins we can actualize now. This week we also are visiting our manufacturing facilities in Vermont, Virginia and North Carolina to meet the people who make our products great.”
Ward added that she is “energized by the conversations already underway and to work alongside designers across our network of design centers and our HQ team to bring fresh ideas to life. Together we will build a culture of openness, collaboration and accountability, moving with the speed and urgency needed to drive Ethan Allen forward.”
