Ex-Market Basket CEO Arthur T. Demoulas demands his job back in new court filing

Arthur T. Demoulas, former CEO of Market Basket, is officially challenging his firing through a counterclaim filed in Delaware, citing collusion between the board and his sisters, who hold 61% of the company. He claims the board acted under the influence of his sisters to further their financial interests and settle family disputes, labeling the removal process as riddled with conflicts and deceit. The board previously characterized Demoulas as a dictatorial leader who ignored their authority and made decisions unilaterally. In his defense, Demoulas argues that his termination was predetermined, occurring immediately after a failed mediation session.

The board has responded by asserting their independence and confidence in their decision-making process. They dispute Demoulas's claims, stating he has resisted accountability and obstructed succession planning. A trial is set for mid-December to address his termination and the associated counterclaims. The outcome could significantly impact Market Basket's leadership dynamics and family relations.