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Market Basket Board Suspends CEO as Investigation Targets Alleged Work Stoppage

The board has enlisted Quinn Emanuel to probe claims of a planned walkout that could mirror the chain’s 2014 uprising

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Market Basket
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Overview

  • On May 28, Market Basket’s executive committee placed CEO Arthur T. Demoulas on paid administrative leave pending an inquiry into whether he plotted a disruptive work stoppage
  • The board cited “credible allegations” that Demoulas and several top deputies were preparing a retaliatory walkout over demands for greater oversight and succession planning
  • Demoulas and his sisters, who together control a majority stake, have called the action a “farcical cover for a hostile takeover” and deny any plans to disrupt operations
  • Long-time managers have been tasked with running day-to-day operations to ensure service quality and to protect employee jobs and benefits
  • Many loyal customers and some employees are discussing a repeat boycott in solidarity with Demoulas, evoking the mass protests of 2014