"He proved to be an excellent operator, but an imperious leader. Arthur believes in top-down management control and sees little need for board oversight."
"He sought to prove that the directors breached their duty of loyalty by acting in bad faith to benefit his sisters and their families. He failed to carry his burden."
Arthur T. Demoulas was removed as CEO of Market Basket by the board, which cited his imperious leadership style and lack of transparency. A Delaware judge upheld the board's decision, stating Demoulas failed to prove any breach of duty by the directors. The judge noted that Demoulas was an excellent operator but believed in top-down management without board oversight. The board thanked him for his service and indicated a desire to work with him as a shareholder moving forward.
Read at Boston.com
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