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'Hostile takeover': Market Basket board puts CEO Arthur T. Demoulas on leave
NEW ENGLAND
‘Hostile takeover': Market Basket board puts CEO Arthur T. Demoulas on leave
The board said "Artie T." is accused of planning a work stoppage and is on paid administrative leave.
By Mike Pescaro and Jericho Tran • Published May 28, 2025 • Updated on May 28, 2025 at 11:31 pm
The board has accused Arthur T. Demoulas of planning a work stoppage and placed him on leave Wednesday.
More than a decade after Market Basket employees went to bat for their ousted CEO, his position is in jeopardy again.
The supermarket chain said Wednesday in a letter to employees that its board had placed Arthur T. Demoulas, the CEO and a minority shareholder, on paid administrative leave, along with "several other employees working with him." In a subsequent news release, the board accused him of planning a work stoppage and claiming he has a "unilateral right to appoint his children to succeed him."
‘Hostile takeover': Market Basket board puts CEO Arthur T. Demoulas on leave
The board said "Artie T." is accused of planning a work stoppage and is on paid administrative leave.
By Mike Pescaro and Jericho Tran • Published May 28, 2025 • Updated on May 28, 2025 at 11:31 pm
The board has accused Arthur T. Demoulas of planning a work stoppage and placed him on leave Wednesday.
More than a decade after Market Basket employees went to bat for their ousted CEO, his position is in jeopardy again.
The supermarket chain said Wednesday in a letter to employees that its board had placed Arthur T. Demoulas, the CEO and a minority shareholder, on paid administrative leave, along with "several other employees working with him." In a subsequent news release, the board accused him of planning a work stoppage and claiming he has a "unilateral right to appoint his children to succeed him."