Market Basket, a prominent grocery chain in New England, has seen its CEO Arthur T. Demoulas placed on leave by the board, echoing past tensions within the family. The board's decision arose from concerns over Demoulas’s conduct, including alleged plans for a work stoppage and his resistance to a succession plan that would involve board input. The Demoulas family's feuding dates back decades, with a history of legal disputes and conflicts impacting the business's operations and governance.
The executive committee of Market Basket's board placed CEO Arthur T. Demoulas on leave for oversight concerns and alleged plans for a disruptive work stoppage.
The board expressed that Demoulas resisted an appropriate succession plan and believed he had unilateral rights to appoint his children without their input.
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