Market Basket’s board of directors announced a new proposal to ousted CEO Arthur T. Demoulas Friday, in an arrangement that would allow his own management team to return to work while he continued negotiations to purchase a majority share in the company.
Demoulas would not be named CEO during the proposed interim period, a statement from the company reads. It’s unclear what role, if any, Demoulas would have in the temporary solution.
Interesting.
The statement claims that Demoulas has not replied to the proposal, privately offered earlier this week, or “any other that would separately resolve the situation in the interim, while he and his shareholder group continue pursuing the purchase” of the supermarket chain.
I have no particular insight, other than it being Arthur T’s move now.
mannygoldstein says
“As long as you can’t actually *do* anything, what could be the harm?”