Boston.com | Judge upholds former Market Basket CEO Arthur T. Demoulas’s firing by Abby Patkin
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A Delaware Court of Chancery judge has upheld the Market Basket board’s decision to fire former CEO Arthur T. Demoulas, confirming that the board’s September vote to remove him was proper. The ruling noted that while Demoulas was “an excellent operator,” his “imperious”, top‑down leadership style led him to bypass board oversight, launch a public campaign against his three sisters who together control a majority of the company, and even disseminate personal information that spurred threats. Demoulas’ attempt to prove the directors acted in bad faith and breached their loyalty duties failed, and the judge affirmed the board’s broad authority to remove a CEO whose conduct undermines governance. The board thanked Demoulas for his years of service and said it will continue focusing on Market Basket’s low‑price, community‑oriented mission under new leadership.
Read more: https://www.boston.com/news/business/2026/04/20/judge-upholds-former-market-basket-ceo-arthur-t-demoulas-firing/
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