Beloved Market Basket CEO Arthur T. Demoulas is out after a unanimous vote by the board Tuesday following an unsuccessful mediation between the two sides.

Market Basket Board Chair Jay K. Hachigian released a statement Wednesday morning, confirming the firing.

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"Despite extensive efforts by the Board and Mr. Demoulas to come to terms, the mediation was not successful. The Market Basket Board late yesterday voted unanimously to remove Arthur T. Demoulas as President and CEO of Market Basket," Hachigian said.

The Board has filed an action in the Delaware Court of Chancery in connection with the removal, he added. The Board met with Mr. Demoulas on Sept. 3 in a confidential mediation in Delaware before former Vice Cha

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