ISS Splits Its Vote: Backs Two Dissident Nominees, Withholds From CEO Kathwari
ETD is trading near its 52-week low of $18.28 (10% above the low) on light trading volume (0.1× avg).
Summary
ISS recommended shareholders elect Doug Bergeron and his nominee Stephen Oblak to the board while withholding votes from CEO Farooq Kathwari and director David Sable at the November 4 annual meeting. That is a partial win for the dissident, not a sweep: ISS wrote that DGB has a compelling case for change but has not cleared the bar for a control slate. It follows Glass Lewis and Egan-Jones, which both backed all five Bergeron nominees, so two of three major advisers now favor at least part of the dissident slate. DGB's stake is now 5.2%, up from the 5.0% disclosed in its August filings. The board has already committed to naming a Kathwari successor by June 30, 2027, which Bergeron called too little, too late. The vote is November 4, five days before the company's fiscal Q1 2027 earnings release on November 9.
At the time of this announcement, ETD was trading at $20.16 on NYSE in the Trade & Services sector, with a market capitalization of approximately $508.1M. The 52-week trading range was $18.28 to $28.21. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.