TEKWSBURY, Mass. — Market Basket has picked a new president to head the company in the wake of longtime President and CEO Arthur T. Demoulas’ ousting.
Chuck Casassa, who Market Basket says began his career at the local grocery chain when he was 14, has been appointed President by the Market Basket Board of Directors.
Casassa first began working at Market Basket in 1976 as a bagger and worked his way up through various positions over the next five decades
“Mr. Casassa’s leadership and dedication to Market Basket over the past 50 years is highly valued by the Board, and we cannot be more proud to have him serve as our President,” Market Basket Board Chair Jay K. Hachigian said in a statement.
Market Basket also announced that Interim Chief Executive Officer, Donald T. Mulligan will retire from the company after 43 years.
[ Market Basket board fires longtime CEO Arthur T. Demoulas after failed mediation ]
Demoulas was removed as president and CEO of the Tewksbury-based grocery store chain, months after he was suspended over allegations that he had been considering leading a work stoppage. The judge sided with Market Basket’s Board of Directors, a group that includes Demoulas’ three sisters.
Several other executives loyal to Demoulas were also fired.
While Demoulas served as both president and CEO, the grocery chain says Casassa will only serve as President and has not named a new CEO.
This is a developing story. Check back for updates as more information becomes available.
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