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The Boston Globe

Business

Market Basket CEO gets reprieve

Following 12 hours of debate Thursday, Arthur T. Demoulas remained president of the Market Basket supermarket chain, despite concerns among some shareholders that he has spent money recklessly and ignored the authority of directors.

The family-owned company’s board adjourned a contentious meeting at 10 p.m. without acting on a motion for Demoulas’s removal. It was unclear whether the shareholders would continue to press for his ouster.

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