Family Feud Could Lead To Market Basket CEO’s Ouster
July 17, 2013 | 1 min to read
A boardroom battle for control of the Market Basket grocery store chain has local employees rallying behind current company CEO Arthur T. Demoulas, whose job appears to be in jeopardy.
The controversy is expected to come to a head Thursday morning when the board of directors of Demoulas Supermarkets, Inc., will meet and possibly replace Demoulas with his cousin, Arthur S. Demoulas.
For years, the Demoulas family has wrangled over of what has grown into a 71-store grocery chain, which has roots in Lowell but has expanded across Massachusetts and New Hampshire.
Arthur T. Demoulas has served as CEO since 2008. Arthur S. Demoulas and other members on his side of the family allege Arthur T. Demoulas has mismanaged the company and ignored instructions from the board, according to various reports.
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