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Feud

September 6, 2013

The second-gen chief executive of US family firm Market Basket has taken court action to block a $300 million dividend payout approved by the board of directors last week.

The second-gen chief executive of US family firm Market Basket has taken court action to block a $300 million dividend payout approved by the board of directors last week.

In a lawsuit filed 5 September in Suffolk Superior Court, Arthur T DeMoulas said the payment should be blocked until problems surrounding the make up of the board are resolved.

He said chairman Keith Cowan, although being nominally independent, was biased in favour of his opponents, including DeMoulas’s cousin and rival Arthur S.

September 3, 2013

A Kenyan family's feud over whether their supermarket chain is or is not a family business has not yet derailed a deal to sell a controlling stake to an outside investor, with a court giving the green light for the deal. 

A Kenyan family's feud over whether their supermarket chain is or is not a family business has not yet derailed a deal to sell a controlling stake to an outside investor, with a court giving the green light for the deal.

Newton Kagiha, a disinherited son of Peter Mukuha Kago, applied for an injunction from the high court to block the sale of the family’s Naivas supermarket chain while a dispute over inheritance was resolved.

August 27, 2013

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

They have also agreed to distribute $250 million (€187 million) among the Massachusetts supermarket chain’s nine family shareholders – a motion likely supported by DeMoulas’s rival and cousin Arthur S DeMoulas, who wants a greater share of company profits.

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.

July 16, 2013

The feuding family behind multi-billion dollar US supermarket chain Market Basket is set to take their battle to the boardroom this Thursday, with the current president facing a leadership coup led by his cousin.

The feuding family behind multi-billion dollar US supermarket chain Market Basket is set to take their battle to the boardroom this Thursday, with the current president facing a leadership coup led by his cousin.

The New England-based business, with annual revenues of more than $4 billion (€3.1 billion), has been led by Arthur T DeMoulas for the last five years, but he has been accused of refusing to listen to the board and spending money recklessly.

April 25, 2013

How do you avoid strife in sibling relationships in family businesses? CampdenFB takes a look.

April 25, 2013

When brothers and sisters work together in a family business the scope for problems is huge. But if managed carefully these relationships can be both productive and fulfilling.

There’s hardly a sadder tale of sibling problems than that of the Chadha brothers, the family behind Indian conglomerate Wave. The beginning of the story will be familiar to many families – a migrant father who started a small retail business and a second generation that took that company to a new level, turning it into a successful empire with interests in food processing, technology, distilling and real estate among others.

November 19, 2012

Gurdeep Singh Chadha, chairman and managing director of Indian conglomerate Wave, has been allegedly killed by his brother Hardeep over a dispute about the family business.

Gurdeep Singh Chadha, chairman and managing director of Indian conglomerate Wave, has been allegedly killed by his brother Hardeep over a dispute about the family business.

Chadha, also known as Ponty, was reportedly shot in the chest by his younger brother, who was also killed in the ensuing gunfight.

July 18, 2012

Italy’s Salini family has won the battle against the Gavio family to control the country’s biggest construction company, Impregilo, after shareholders approved a plan to oust board members backed by the Gavios.

Italy’s Salini family has won the battle against the Gavio family to control the country’s biggest construction company, Impregilo, after shareholders approved a plan to oust board members backed by the Gavios.

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