Market Basket fires President and CEO Arthur T. Demoulas
Market Basket fires President and CEO Arthur T. Demoulas
The Market Basket board has voted unanimously to fire Arthur T. Demoulas, president and CEO of the retailer. The news comes more than three months after Demoulas and other employees were placed on paid administrative leave; in the interim the company fired two executives — Joseph Schmidt, director of operations, and Thomas Gordon, grocery director — for insubordination. The board met with Demoulas on Sept. 3 in a confidential mediation and continued via video conference on Sept. 9. Despite efforts by the board and Demoulas to come to terms, the mediation was not successful. "Up through his