Family feud leads to Arthur T. Demoulas firing from Market Basket

In Massachusetts, the longstanding dispute within the Demoulas family regarding control of Market Basket surfaced in a highly publicized manner this past year. Arthur T. Demoulas, known for his popularity among employees and customers, was dismissed as CEO by the board, which is under the influence of his cousin, Arthur S. Demoulas. This decision sparked an outcry from both employees and customers. Thousands of employees staged walkouts and customers actively boycotted Market Basket stores. The dramatic response led to empty supermarket shelves and significant financial losses for the company. After weeks of protests, a deal was reached where Arthur T. and his three sisters acquired Market Basket for $1.6 billion, momentarily resolving some tensions among the family members involved. However, this resolution did not mark the end of family tensions. In May of the current year, the board, now under the control of the Demoulas sisters, suspended Arthur T. for supposedly instigating a work stoppage in retaliation to requests from the board. The board accused him of acting like a 'dictator' and failing to provide necessary financial information or collaborate on essential succession plans. As a result, others loyal to Demoulas were dismissed, further consolidating the board's authority in the corporate structure. Despite these challenges, Arthur T. has expressed his determination to return to a leadership role at Market Basket, emphasizing his commitment to working alongside the store's 32,000 associates as his primary goal throughout these turbulent developments.