by the Journal-Opinion
“Three of Ethan Allen’s five board members were ousted on Wednesday in a shareholder vote, marking a successful takeover led by Utah-based investor and former Verifone CEO Doug Bergeron,” reported VTDigger.
The Vermont furniture and design company maintains production facilities in the Northeast Kingdom communities of Orleans and Beecher Falls.
Bergeron told the outlet that he wants Ethan Allen to modernize “its approach to sales and marketing, among other changes.”
This is not the first time Ethan Allen has faced a takeover bid by an “activist investor,” reported the Barton Chronicle in August. But that 2015 bid, by Sandell Asset Management, was rebuffed by Ethan Allen’s shareholders.