Market Basket CEO Suspended Over Work Stoppage Claims

The board of directors at Market Basket put CEO Arthur T. Demoulas on leave following claims he planned to interrupt store operations. His kids, Madeline and Telemachus, also face suspension.

The CEO's team fired back. His spokesperson called the move a "hostile takeover" by relatives and their board supporters, according to Boston.com.

Board members raised two key concerns: the CEO resisted succession planning while trying to place his children in company positions without proper approval. With 90 stores on the line, temporary managers now keep things running.

During Demoulas's leadership, the chain cleared $1.6 billion in debt. Annual sales grew by $1 billion since 2008. The staff nearly doubled, growing from 14,000 to 25,000 employees.

This isn't the first leadership clash at Market Basket. In 2014, the board kicked him out. Workers stopped working. Customers stayed away. The mess only ended after Demoulas bought his family's shares.

Some board members hated his management approach. They labeled him "openly defiant" of company policies. Yet Market Basket kept thriving while rivals like Stop & Shop closed stores.

Family fights over control mark this company's story. Family ties, not business thinking, often shaped big company choices over time.

As the situation plays out, Market Basket stores remain open. It's the second major leadership shake-up in ten years for this New England grocery giant.