The CEO, Arthus T. Demoulas of the grocery community, Market Basket, has been suspended from the company due to several accusations of him conspiring against the company. He is accused of planning to disrupt the supply chain of grocery stores throughout the country. The Market Basket is a reputed grocery community throughout the US with approximately 90 extensions and 30,000 workers employed throughout the nation. A disruption on such a mass scale could have drowned the community. Thus, the board of directors has decided to suspend Arthus T. Demoulas until their investigation into this matter is over.
What could be the possible reason behind the CEO’s reckless move?
The Board of Directors has a strong suspicion that CEO Arthur T. Demoulas is behind the plan to drown the community. They have revealed that the CEO had some ongoing disagreements with the Board of Directors, which could be the possible reason for his revenge in this way. The board wanted Arthus T. Demoulas to collaborate with them regarding the company’s basic operations which he refused to agree, as per the Board.
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The steps taken by the Board of Market Basket
Arthur T. Demoulas is suspended until the case is closely investigated and all the people who could be associated with him in this plan as well. The Board says that there is an economic uncertainty in many households in the US and if in the middle of that such incidents happen then it won’t only affect the community but also those sections of the society as well.
The news says that Arthus T. Demoulas was forced out of his position by the involvance of his three sisters and the three board of directors on the allegation of “Hostile Takeover.”
Moreover, the children of Arthus Demoulas are also temporarily suspended from the company to ensure the secrecy of plans. In addition, it is said that the Board has given paid leave to the CEO and the employees who are suspended until the investigation is completed. The Board, until then will take care of the operations of the company in place of the CEO.
Arthus T. Demoulas as a CEO
As a CEO, Arthus Demoulas has shown excellence in his work in the field. After his recruitment, the company’s shares went through the roof. According to the Board, the company is at its peak, and they do not want him to take it down after such hard work. Within 10 years of his appointment, he has paid off the debt owed by the company in full. Moreover, the company has experienced an uptrend in the market with its compatibility and policies attracting more and more customers.
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Conclusion
The CEO is an excellent strategist and good at what he does. However, the allegations on him for a “hostile takeover” have surely put him in dilemma. The Board has claimed his involvance in such act due to the disagreement between them. The further investigation would uncover the truth behind the news and tell if this stunt is planned or merely a misunderstanding.
