A decades-old fight over one of the state’s largest grocery store chains took a dramatic turn Monday when Market Basket president Arthur T. Demoulas and two other top executives were ousted by a board controlled by Demoulas’s chief rival — his cousin.
The episode was the latest in a real-life soap opera that has played out between feuding members of the family-owned grocery chain for more than 20 years, with epithet-filled board meetings, several stints in court, and even a fistfight between the cousins.
Most recently, Demoulas was under attack from relatives who say he ignored the board and spent money recklessly. He, in turn, claimed that they wanted the company to pay them bigger dividends at the expense of employees and customers.
“The board’s action today is driven by greed, pure and simple,” said William Marsden, the director of operations ousted along with Demoulas.
“Our crime was our commitment to Arthur T. Demoulas, the employees, and the promise to customers to always honor the Market Basket commitment to high quality and value.”
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