Market Basket, Methuen and Demoulas
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Two Market Basket executives who were fired Tuesday say the move was part of an effort to silence employees who oppose changes the company's board of directors and some shareholders want to make to the company.
The board of Market Basket has fired two top lieutenants of sidelined chief executive Arthur T. Demoulas, accusing them of insubordination and making derogatory remarks about the family-owned company.
The New England grocery chain told a local news outlet it terminated the directors for making untrue statements about the company.
One of Market Basket’s founding family members, Arthur T. Demoulas, is blasting away at the private equity group that has a major ownership stake and he says is ruining the company. The chain has dozens of locations across New England, including two in Rhode Island.