Tewksbury, Mass. – A group of Market Basket employees known as “Save Market Basket” have threatened to walk off the job as of 4:30 p.m. ET on July 17 if former CEO Arthur T. Demoulas is not reinstated. Demoulas had been waging a public battle with his cousin Arthur S. Demoulas, a stakeholder and director of the company, about finances when he was fired by Market Basket operator Demoulas Super Markets Inc. in June.
The board of directors of Demoulas Super Markets elected retail executives Felicia Thornton as COO and Jim Gooch as chief administrative officer, and the two will serve as co-CEOs. In an open letter to Thornton and Gooch on Facebook, Save Market Basket said Arthur T. Demoulas must be reinstated will full, non-negotiable authority and that a non-answer by the deadline will be considered a no.
Thornton and Gooch have publicly said they do not have authority to reinstate Demoulas, and that only the board can restore him to his position. It is unclear how many employees might participate in a walkout, whether it would include managers, warehouse workers, and/or store associates, and how long it would last. Demoulas remains a company shareholder.