Artie T, the face behind the Market Basket grocery store chain, has been fired.
The board announced this morning that “the mediation was not successful” and Arthur T. Demoulas is being shown the door.
Expect a lawsuit today, the Herald has learned, as the Delaware mediation has collapsed and now Market Basket Nation frets.
Here is the full statement sent to the Herald:
Statement Regarding Arthur T. Demoulas Removal from Board Chair Jay K. Hachigian
“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. The Board has filed an action in the Delaware Court of Chancery in connection with the removal.
The Board m