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Arthur S

March 3, 2014

Third-gen Market Basket chief executive Arthur T DeMoulas has suffered a blow in the latest round of the longstanding feud with his cousin Arthur S over the running of the multi-billion-dollar family business – a supermarket chain based in Massachusetts, US.

Third-gen Market Basket chief executive Arthur T DeMoulas has suffered a blow in the latest round of the longstanding feud with his cousin Arthur S over the running of the multi-billion-dollar family business – a supermarket chain based in Massachusetts, US.

Arthur T had argued that a board member, who had voted in favour of a large dividend pay out, was not independent and his votes should be nullified.

Market Basket, founded initially as a small grocery store in 1917, has annual revenues of more than $4 billion and employs 18,000.

July 19, 2013

The chief executive of Market Basket will remain head of the family business for now, despite a marathon board meeting on Thursday where his cousin attempted to oust him from the role.
 

The chief executive of Market Basket will remain head of the family business for now, despite a marathon board meeting on Thursday where his cousin attempted to oust him from the role.

The US-based chain of supermarkets was ordered by the courts to hold a board meeting following their long-running disputes, with some board members stating incumbent president, Arthur T DeMoulas, was spending money recklessly and ignoring the advice of the board.

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