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Arthur T DeMoulas

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

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

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.

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.

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.

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.

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.

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.

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.

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