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Report: Market Basket CEO faces termination by family-run board
Boston -- A report by the Boston Globe revealed that the fate of Market Basket CEO Arthur T. Demoulas lies in the hands of the grocery chain’s board of directors, as members are posted to fire Demoulas at a meeting of the board next week.
A longtime family feud has split the board in two, and both sides of the family-owned Demoulas Super Markets Inc. will face off in a meeting on Thursday, July 18, to determine whether or not Demoulas will be removed from office.