Business & Tech
Market Basket Battle Could Impact Chelmsford Customers
Online petition started to save CEO, preserve low prices.
The Demoulas family battle over the Market Basket chain appears to be coming to a head this week as the company may take steps to remove Arthur T. Demoulas from his chief executive officer position.
A board of directors vote to oust CEO Arthur T. Demoulas, a son of one of the founders who has been in control of the company since 2008, is scheduled for Thursday. The fight is being led by Arthur S. Demoulas, the CEO’s cousin, who is also a son of one of the founders.
The latest action has consumer advocates and supporters of employees worried. An online “Save Market Basket” petition was recently created urging three board members to back Arthur T. Demoulas as CEO. He has reportedly worked to expand the chain, hire more people and preserve profits while not taking on corporate debt.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
The petition, with nearly 40,000 signatures, notes that the store chain is a “way of life” for thousands of loyal customers. Petitioners fear that if the company changes hands, it will be sold and prices could go up for consumers.
The family has a history of making headlines about intra-family battles over who controls the company.Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
