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Arthur S DeMoulas

Family Business Roundup: Bechtel, Market Basket, and Samsung

June 3, 2016

Bechtel names 35-year-old as new chief executive; Family behind Market Basket grocery chain back in court; and South Korean court rules against Samsung merger suit

Bechtel names 35-year-old as new chief executive

Bechtel Corporation, one of the largest family businesses in the US, has named fifth-generation Brendan Bechtel as its new chief executive.

The 35-year-old will replace Bill Dudley, who became the first non-family CEO to run the business after Brendan’s father, Riley Bechtel, was diagnosed with Parkinson’s disease two years ago.

Book Reviews: We Are Market Basket

February 23, 2016

The story of the unlikely grassroots movement that saved a beloved business

The Story of the Unlikely Grassroots Movement That Saved a Beloved Business

Arthur S unlikely winner in Market Basket family feud, expert says

September 4, 2014

Market Basket third gen Arthur S Demoulas, who experienced huge staff and customer backlash when he fired his cousin from the helm of the family business, has still come out on top in the long-running family feud, according to a family business expert.

The New England-based supermarket chain, which has annual revenues of $4 billion (€2.9 billion), became the target of staff-led rallies calling for Arthur T Demoulas to be reinstated after his ousting in a board vote led by his cousin.

Market Basket family feud prompts staff and customer loyalty to ousted CEO

July 30, 2014

The ousted chief executive of US supermarket chain Market Basket has gained a level of support from employees that is uncommon outside of family businesses, according to a Harvard Business School academic.

Staff and customers have been boycotting the multi-billion dollar company since Arthur S Demoulas, who owns 51% of the company, removed his cousin Arthur T Demoulas from office last month, arguing that a popular profit-sharing scheme was cutting into shareholder profits.

Market Basket ousts second-gen president

June 25, 2014

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business.

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business.

In a statement, the board, chaired by DeMoulas’s cousin and rival Arthur S Demoulas, said the 58-year-old would “not retain any management responsibilities moving forward”.

Market Basket, founded initially as a small grocery store in 1917, has annual revenues of more than $4 billion (€2.9 billion) and employs 21,000.

Feuding Masket Basket family hires recruitment firm

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.

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.