Market Basket CEO Arthur T. Demoulas Fired Amid Family Feud

Tewksbury, Massachusetts — Arthur T. Demoulas was fired as CEO of Market Basket on Wednesday, following a long-standing family feud that raised concerns over the grocery chain’s future. The board, representing Demoulas’s three sisters who own over 60 percent of the company, cited unresolved issues regarding leadership and succession as the reason for his termination.

The decision comes after months of tensions, intensified by an ongoing investigation into Demoulas’s leadership style and company operations. In a statement, board chair Jay Hachigian explained that they faced a choice between Demoulas’s unyielding control and the need for a sustainable business moving forward.

Market Basket, known for its low prices and community atmosphere, has been a staple in the region’s grocery landscape. Customers expressed unease at the news of Demoulas’s ousting. “It makes me worried a little bit, like is Market Basket going to go in some other direction?” said Donna Rains, a shopper at the Somerville location.

Demoulas, 70, has been a beloved figure in the community, promoting low prices and employee satisfaction. His presence was seen as synonymous with Market Basket’s mission. As uncertainty looms, customers are asking whether prices will rise or if employee morale will be affected.

Historically, Market Basket has shown resilience, notably during the 2014 crisis when a boycott erupted over Demoulas’s temporary ouster. Customers rallied behind him, emphasizing the emotional and personal ties they had with the brand.

While some shoppers, like Marcie Pamphile, dismissed the boardroom changes as mere theatrics, many remain apprehensive about the future. “I shop at Market Basket because they have the best prices. Do I have to worry about that changing now?” asked Serina Mourino, a loyal customer.

Hachigian reassured shoppers that core operations, including low prices and customer service, would remain unchanged, despite the leadership shakeup. “Market Basket will not change its operations, profit-sharing, bonuses or culture,” he stated.

The board’s lawsuit against Demoulas details their rationale for the firing and seeks approval of the termination. As the dust settles from this dramatic development, the future leadership structure remains uncertain.