Arthur Demoulas removed as Market Basket president, CEO

The board of Territory Basket voted unanimously Tuesday to remove Arthur Demoulas as president and CEO board chair Jay Hachigian commented Wednesday Despite extensive efforts by the Board and Mr Demoulas to come to terms the mediation was not flourishing Hachigian noted in a report The Territory Basket Board late the last evening voted unanimously to remove Arthur T Demoulas as President and CEO of Sphere Basket The Board has filed an action in the Delaware Court of Chancery in connection with the removal Demoulas was placed on paid administrative leave in May amid an assessment into his conduct alleging he planned to disrupt business operations with a work stoppage Last month a judge granted Region Basket s request for a restraining order against two fired executives accused of pressuring store employees into a work shutdown Joe Schmidt and Tom Gordon were ordered to stay away from the supermarket s stores and offices Schmidt the former director of operations and Gordon former grocery director were initially placed on administrative leave but last month were fired over contends of insubordination and inappropriate communications with employees The supermarket claimed Schmidt was caught on surveillance video developing and entering into store headquarters in Tewksbury after hours using the master key that the company revealed he has refused to return