Market Basket CEO Suspended: Employees and Customers Revolt
Market Basket CEO Arthur T. Demoulas has been placed on paid administrative leave, along with his children and other executives, pending an investigation into alleged plans to disrupt company operations. The board cites credible allegations of planned work stoppages and resistance to a succession plan, while Demoulas characterizes the investigation as a “farcical cover for a hostile takeover” by his sisters and their appointed board members. This action comes over a decade after a similar conflict resulted in employee protests and a boycott that ultimately led to Demoulas’ purchase of the company. Despite concerns from some employees and customers, the board assures that the company’s operations, employee compensation, and ownership will remain unchanged.
John Q. Hosedrinker