Latest news with #ArthurT.Demoulas
Miami Herald
a day ago
- Business
- Miami Herald
The Friday Checkout: Could Market Basket have another boycott on its hands?
When Market Basket's board ousted CEO Arthur T. Demoulas more than a decade ago, shoppers revolted and forced a sale of the company to the popular leader. This week, the board once again sidelined "Artie T," as many refer to him - and this time seems to think things will go differently. The 2014 ouster marked the apex of a long-simmering family feud between Demoulas and board members led by his cousin, Arthur S. Demoulas. This time around, the board said it's placing Arthur T. Demoulas on paid leave while it looks into allegations that he was planning a work stoppage. The board claims Demoulas has been uncooperative in addressing concerns over corporate oversight measures and succession planning, and said operations will continue as usual at its 90 New England stores while it conducts an investigation. But Market Basket's business may be anything but usual over the coming days and weeks. On social media, in local news reports and in flash polls, shoppers have decried the board's latest move, and many indicate they plan to boycott stores again. ran a poll asking shoppers whether or not they plan to continue shopping at Market Basket while Arthur T. remains on leave. Out of around 400 responses collected by Thursday afternoon, more than half (55%) said they don't plan on shopping at the stores. "Arthur T. is the heart and soul of that company and should be treated as such. These power grabs are a disgrace to the family legacy," one reader wrote. On Reddit and Facebook, meanwhile, people who said they boycotted the company more than a decade ago declared that they would do the same again, while others decried the board as greedy and said the company's values are in jeopardy with Arthur T. Demoulas out of leadership. Demoulas himself said through a spokesperson that the investigation is a cover for a "hostile takeover" of the company, no doubt fanning the flames. Although the board has tried to make a pointed, logical case for its decision to place Demoulas on leave, some shoppers think there is a conspiracy unfolding against the popular CEO, whom they feel embodies the low-frills, high-service approach they love about Market Basket stores. With so many people closely watching their spending, the prospect of change at a low-price grocer feels particularly alarming. The whole saga offers a powerful reminder to the industry about just how much shoppers can love a grocer that treats them well - and how willing they might be to revolt if they don't like what they see. In case you missed it Kroger e-commerce center drivers ready to strike Drivers at the Kroger fulfillment center in Forest Park, Georgia, have voted to authorize a strike, the International Brotherhood of Teamsters said in a Wednesday announcement, noting that the workers' decision was in "response to the company's repeated refusal to negotiate a fair agreement." The workers, who joined Teamsters Local 528 last summer, are trying to negotiate their first union contract. The union claims Kroger has stalled negotiations and failed to offer a contract that meets basic standards. Sam's Club serves up pizza delivery The Walmart-owned club retailer said its members are getting what they have long asked for: pizza delivery. All Sam's Club locations will offer delivery of freshly made pizzas by the end of May, the retailer said in a press release. The pies, which sell for just under $9, are also available for Express delivery in under three hours. "When we talk about innovation, it's not just about what's new - it's about what makes life easier for our members," Kurt Hess, group director of operations and implementation at Sam's Club, said in the announcement. "Pizza delivery is a perfect example: it brings together value, convenience and one of our most-loved Café items in a way that fits how people shop today." Costco records positive sales growth The club retailer beat Wall Street estimates, with net sales up nearly 7% in the U.S. and e-commerce sales up nearly 15% during its third quarter compared to the same period last year, the company reported Thursday. The company's net income also recorded growth, up 13% year-over-year to $1.9 billion. Impulse find Krojis: TikTok's next influencers? Could Kroger's animated characters, known as Kroji's, help the grocer go viral? The grocer seems to be giving that idea a shot. A TikTok from Kroger on May 20 shows people dressed up as Krojis inside a store. One shows off the grocer's produce selection while the other has a cart filled with gallons of chocolate milk, accompanied by an audio clip from the 2004 film "White Chicks." The post has more than 47,000 likes and 774,000 views, making it one of the grocer's most viewed TikToks in recent days (although a cheese pull video of a mozzarella stick onion ring has 991,000 views). While this isn't the first time Krojis have appeared in the grocer's TikToks, their recent reappearance suggests they may be back again in the future. Whether Krojis will become endearing influencers - or a jump scare - on social media remains to be seen. Copyright 2025 Industry Dive. All rights reserved.
Time of India
3 days ago
- Business
- Time of India
Market Basket Board suspends CEO Arthur T. Demoulas; he hits back with ‘hostile takeover' jab
CEO placed on leave as Board cites corporate oversight dispute The Board of Directors of Market Basket has suspended Chief Executive Officer Arthur T. Demoulas and several other senior executives, effective immediately, amid an internal investigation into actions that allegedly threatened the company's operations. The decision follows what the board described as credible allegations that Demoulas planned a work stoppage as retaliation for the board's directives regarding governance. According to the board's executive committee, Demoulas resisted cooperating with oversight measures and opposed the development of a formal succession plan, instead asserting unilateral authority to appoint family members as successors without board input. Also read: How American CEOs have started speaking in roundabout ways to keep Trump's terror at bay Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Portable Air Conditioners Without External Units Are a Game-Changer in the Philippines Air Condition | Search Ads Search Now Undo The company's directors emphasized the importance of maintaining stable operations during a period of economic uncertainty. 'Market Basket stores provide a place that our local communities consistently count on for both their livelihoods and daily needs,' said Director Steven J. Collins. 'The board has a responsibility to safeguard the company's effective operations now and well into the future.' Demoulas will remain on full salary and continue to share in company distributions while the investigation proceeds. During the suspension, Market Basket will be operated by its existing management team, which the board states will ensure that the chain's 90 locations continue to function without disruption. Live Events Demoulas responds, calls investigation a ' hostile takeover ' In a statement issued through spokesperson Justine Griffin, Arthur T. Demoulas criticized the board's actions, characterizing the investigation as an attempt to seize control of the company. Also read: Trump drafts America's business titans to burnish his image at home and abroad 'The purported investigation is nothing more than a farcical cover for a hostile takeover,' Demoulas said. 'Three of my sisters, together with three board members they appointed Jay Hachigian, Steve Collins, and Mike Keyes voted to oust me, my daughter Madeline, my son Telemachus, and several other senior executives.' Demoulas added that under his leadership, Market Basket paid off $1.6 billion in debt in December 2024 and is 'operating at the top of its game.' The board reiterated that there will be no changes to employment, benefits, or ownership for the company's associates and that customers can continue to expect the same level of product quality and value.
Boston Globe
3 days ago
- Business
- Boston Globe
A refresher on the longstanding Market Basket family feud
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up A sign outside of a Lowell Market Basket in July 2014. Joanne Rathe/Globe Staff Advertisement To explain, we have to go back a while. Market Basket has its roots in a Lowell food store opened in 1917 by Greek immigrants Athanasios and Efrosini Demoulas. Eventually, the couple sold the store to two of their kids, George and Telemachus. George died in 1971, giving Telemachus — father of Arthur T. Demoulas — control of the company. Fast forward to 1990: George's side of the family — including son Arthur S. Demoulas, cousin of Arthur T. — launched a bitter legal battle against the other side of the family, claiming that Telemachus was swindling George's side of the family out of their shares of the business. The court eventually found in favor of George's side of the family, giving them a narrow controlling stake in the company. Advertisement And yet, in 2008, Arthur T. Demoulas was tapped to lead the company — the result of a wayward board member on George's side of the family that tended to side with Arthur T. The animosity between the two Arthurs, both alike in indignity, only grew from there — particularly over financial matters. Broadly speaking, Arthur S. and his side wanted bigger dividends for the company's shareholders — i.e., members of the Demoulas family. Arthur T. was in favor of spending on store expansion and generous worker compensation, including regular bonuses and a profit-sharing plan. This fissure led to some combative moments between Arthur T. and the board. For example: At a 2009 board meeting, Arthur S. Demoulas was scrutinizing his cousin's plan to spend millions on employee bonuses. 'I want to tell you, Arthur, you hired me to run the company, OK; and when you hired me, you hired my management style,' said Arthur T. Demoulas. 'And my management style is not to come back to this board to request and ask for permission.' At another board meeting, this one in 2012, directors raised the possibility of a limit on how much the CEO could spend without board approval — a proposal to which Arthur T. did not take kindly. 'I'm running this company with the philosophy, very strong philosophy, there's only one boss on this company. There's not two. There's not three. There's not five. There's only one boss in this company,' Arthur T. said. Advertisement Finally, in June 2014, matters reached a fever pitch, with the board removing Arthur T. from his post. The backlash, to put it mildly, Employees and customers hold a rally in support of Arthur T. Demoulas in Tewksbury in July 2014. Suzanne Kreiter Stuffed giraffes became a symbol of support for Arthur T. Demoulas, representing his tendency to "stick his neck out" for employees. Suzanne Kreiter Boycotting customers taped up receipts from competing supermarkets at Market Basket stores. Joanne Rathe/Globe Staff Rank-and-file workers, many of whom revered Arthur T., staged massive walkouts. Customers boycotted, taping receipts from Hannaford and Shaw's on store windows. Shelves grew barren. As the company lost millions of dollars each day, the governors of Massachusetts and New Hampshire tried desperately to broker a deal. Finally, in August 2014, the madness came to an end. Arthur T., along with his three sisters, reached a deal to buy out Arthur S. and other relatives from the supermarket chain for $1.6 billion, and he retook his place as the helm of the company. Employees went back to work, and customers returned in droves. 'You taught everybody that ... Market Basket is a place where respect, honor, and dignity is a way of life,' Arthur T. told workers outside the brand's Tewksbury headquarters after the deal was reached. 'This was not about a family conflict or a Greek tragedy, but more about fairness, justice, and a solid moral compass that united the human soul.' Arthur T. Demoulas addresses workers outside of Market Basket headquarters in Tewksbury on Aug. 28, 2014. Jessica Rinaldi/Globe Staff Since then, Arthur T.'s tenure has continued with relatively little fanfare. The company has flourished, adding stores and growing revenue, and the Great Market Basket Uprising of 2014 became the stuff of New England lore. Will history repeat itself? Only time will tell. Dana Gerber can be reached at
