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Market Basket Names New President After Court Upholds Firing of Former CEO Arthur T. Demoulas

On Thursday, Market Basket's Board of Directors named Chuck Casassa, a 50-year company veteran, as the grocery chain's new president, following a Delaware judge's validation of former CEO Arthur T. Demoulas' firing.
Last week, Delaware Court of Chancery Judge Travis Laster ruled the board acted in good faith, citing Demoulas' resistance to oversight and concerns he might orchestrate a retaliatory work stoppage.
Interim CEO Donald T. Mulligan is retiring after 43 years with the company but will remain as an advisor; Casassa began as a bagger in 1976 and spent over three decades managing stores.
Board Chair Jay K. Hachigian said Casassa's "leadership and dedication over the past 50 years is highly valued," while the board stated it anticipates working productively with Demoulas as a significant shareholder.
Despite recent family turmoil, Market Basket maintains its internal promotion policy and ranks among the nation's top grocers, operating 90 stores with annual revenues around $8 billion.

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14 Articles

Worker who started as bagger named new president of Market Basket

Market Basket's Board of Directors officially picked the grocery store chain's new president Thursday, more than a week after a judge upheld their decision to fire longtime CEO Arthur T. Demoulas.

2 days ago·East Providence, United States

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Providence Journal

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Chuck Casassa rises from bagger to Market Basket CEO

2 days ago·Providence, United States

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CBS News

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Market Basket names new president after court upholds firing of former CEO Arthur T. Demoulas

Market Basket is making changes at the top after a judge upheld the firing of former president and CEO Arthur T. Demoulas.

2 days ago·United States

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Boston 25 News

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Market Basket names new president, filling void left by Arthur T. Demoulas’ ousting

The chain's new leader first began working at Market Basket in 1976 as a bagger.

2 days ago·Boston, United States

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The Sun (Lowell)

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Boston Herald

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Interim Market Basket CEO to retire, new president named

TEWKSBURY — Days after a Delaware judge ruled in their favor, the Market Basket Board of Directors announced Thursday that interim CEO Donald Mulligan will retire from the grocery chain after 43 years.

2 days ago·Lowell, United States

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