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Report: Market Basket to continue $300 million payout
Tewksbury, Mass. – DeMoulas Supermarkets Inc., operator of the Market Basket supermarket chain, has reportedly been allowed by a judge in Suffolk Superior Court in Massachusetts to continue making a $300 million payout to shareholders.
According to the Boston Globe, Judge Judith Fabricant denied a motion by Arthur T. DeMoulas, president of DeMoulas Supermarkets, to stop the payout, which had been approved by a majority of the company’s board of directors. All nine shareholders receiving the payout are members of the DeMoulas family. -
Loblaw makes executive appointments
New York -- Canada’s Loblaw Cos. announced a series of executive appointments, including the naming of Mark Butler as executive VP integration.
In the newly created role, Butler will take on responsibility for planning the integration of Shoppers Drug Mart, while ensuring it remains an independent division. He has 37 years with Loblaw, and most recently was executive VP conventional division.