Demoulas family: Who's who in the latest Market Basket standoff?
Arthur T. Demoulas eventually prevailed, buying out Arthur S. Demoulas and delivering control of the board to his own side of the family — himself and his three sisters. But 11 years later, the company's
So who's who in this latest round of corporate gamesmanship? Here's a rundown of all the key players in the Market Basket drama.
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Arthur T. Demoulas — Market Basket CEO
The central figure in the modern Market Basket saga, Arthur T. Demoulas has headed the company since 2008 — a tenure briefly interrupted by his firing and reinstatement in 2014. Arthur T. Demoulas learned the ropes under his father, Telemachus Demoulas, joining the company board just a year out of high school in 1974.
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Arthur T. Demoulas was involved in many altercations with the Arthur S. Demoulas side of the family — including one occasion in court, where he threw a punch at his cousin. Despite the acrimony, a wayward board member on the Arthur S. Demoulas side was the deciding vote to name Arthur T. Demoulas CEO in 2008.
When that board member changed sides again, it set off a seismic summer of employee walkouts and customer boycotts in 2014. With mounting public pressure, Arthur S. Demoulas agreed to sell his side's shares to Arthur T. Demoulas and his sisters.
Since returning as CEO,
But his style of governance has alienated board members, who complain Arthur T. Demoulas has left them in the dark about expenditures and management decisions. His desire to anoint one of his children as his successor only added to the board's decision to place him on paid leave.
Frances Demoulas (Kettenbach) — Arthur T. Demoulas' sister, Market Basket shareholder
The eldest sibling in the Demoulas family (five years older than her brother), Frances Demoulas lives in Boston with her husband, Michael Kettenbach. The two are co-directors of a real estate management firm based in Tewksbury, according to state filings.
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Kettenbach, a developer, has worked closely with Market Basket 'for decades,' according to the
Frances Demoulas of Boston, pictured in 1998.
BRETT, Bill GLOBE STAFF
Frances Demoulas may be more known for her role in a high-profile spat over a Back Bay townhouse several years ago; a retired Brandeis University professor and his wife claimed the Kettenbachs
Glorianne Demoulas (Farnham) — Arthur T. Demoulas' sister, shareholder
Glorianne Demoulas, the second of the three Demoulas sisters, lives in North Andover. Her husband, Robert Farnham, played football at Brown University, where he and his wife have a room named after them, and in the Canadian Football League. Robert Farnham owns a local food wholesaler in North Andover, according to state filings.
Their son, Bobby Farnham, played four seasons in the National Hockey League. In 2015, Farnham told
Caren Demoulas (Pasquale) — Arthur T. Demoulas' sister, shareholder
Caren Demoulas lives in Weston. Her husband, Joseph B. Pasquale, is a real estate developer who, like Michael Kettenbach, has also worked with Market Basket in the past. Pasquale is also a co-owner of the Hopkinton Country Club.
Caren Demoulas, along with her sisters Frances Demoulas and Glorianne Demoulas, helped finance Arthur T. Demoulas' $1.6 billion buyout of their cousin, Arthur S. Demoulas, giving their side of the Demoulas family full control over the company.
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T.A. Demoulas, State Representative Carole Fiola and Madeline Demoulas at the opening of a new Market Basket in Fall River in 2017
State Representative Carole Fiola
Madeline Demoulas — Arthur T. Demoulas' daughter, Market Basket executive
Madeline Irene Demoulas, daughter of Arthur T. Demoulas, was placed on leave along with her father and brother. She was a member of the company's executive operations team, where her role included managing systems and logistics along with 'various personnel, marketing, and customer service programs,' according to the
After attending Middlesex, a Concord preparatory school, Madeline Demoulas graduated from Boston College with an English degree in 2012. While at BC, she wrote a weekly column for The Heights, the college's student newspaper, and studied abroad in Greece, according to
Madeline Demoulas married Matthew Kelley, an executive at Amazon, in 2022. (
Telemachus 'T.A.' Demoulas — Arthur T. Demoulas' son, Market Basket executive
Named after his grandfather, Telemachus 'Mike' Demoulas and known as T.A., T.A. Demoulas attended Middlesex School as well as Bentley University, his father's alma mater. As a lacrosse player at Bentley, he was named to the Northeast-10 All-Rookie team and, in his senior year, the New England Intercollegiate Lacrosse Association All-New England team. Graduating with a degree in finance, T.A. Demoulas was drafted by the
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At Market Basket, T.A. Demoulas holds the role of store supervisor, according to
Mary Demoulas — Arthur T. Demoulas' daughter
The sole child of Arthur T. Demoulas to not currently be working in the family business, Mary Demoulas graduated from Boston College with an English degree in 2020, according to her
Arthur S. Demoulas.
WILSON, Mark GLOBE STAFF
Arthur S. Demoulas — Arthur T. Demoulas' cousin, former Market Basket shareholder
Arthur S. Demoulas was the face of the decision to remove his cousin, Arthur T. Demoulas, in 2014. In the 1990s, Arthur S. Demoulas took the Arthur T. Demoulas side of the family to court over defrauded shares, and won. Like his cousin, he worked in the supermarket throughout his youth, even while studying business at the University of Maine (and playing on the Black Bears hockey team).
Arthur S. Demoulas was pushed out of Market Basket after his side of the family agreed to sell their shares to the Arthur T. Demoulas side. Shortly afterwards,
Market Basket board members and executives
Arthur T. Demoulas and his sisters are represented on the Market Basket board by four members from outside the family: Jay Hachigian, Steve Collins, Michael Keyes, and Bill Shea.
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Hachigian is a founding partner of the Gunderson Dettmer law firm; he replaced Shea, a longtime ally of Arthur T. Demoulas, as chairman of the board in March. Collins is a managing director at Exeter Capital, a private equity firm, and Keyes oversees acquisitions at Intercontinental, a Brighton-based real estate developer.
Terry Carleton, another longtime Arthur T. Demoulas ally dating back to the days of the 2014 walkout, was pushed off the board earlier this year.
Other allies of Arthur T. Demoulas also placed on paid leave last week include executives Joe Schmidt, director of operations, and Tom Gordon, grocery supervisor. Both have been with the company for decades, and were among the
Material from previous Globe coverage was used.
Camilo Fonseca can be reached at
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