Market Basket names Chuck Casassa new president
The board of administrators at Market Basket on Thursday named a new president, selecting veteran supervisor Chuck Casassa for the job lengthy held by common boss Arthur T. Demoulas till the board fired him final yr.
Chief monetary officer Don Mulligan crammed in on an interim foundation as the corporate’s high govt after the board terminated Demoulas in September. Now, after 43 years with Demoulas Super Markets, the company title for the Market Basket chain, the board is saying that Mulligan is retiring. Mulligan has been with the corporate since getting employed beneath Demoulas’s father, working his means up by the ranks to be named CFO in 1999.
The personnel strikes on the Tewksbury firm, which employs round 33,000 folks, observe a showdown in Delaware Chancery Court between Demoulas and the board of administrators.
The board claims Demoulas did not share budgetary info with the board and was encouraging dissent to guard his job, very like what happened in 2014 when Demoulas clashed with a distinct group of board members. Demoulas, in the meantime, says the corporate thrived beneath his path and he is being sidelined due to clashes together with his three sisters, who collectively management greater than 60 p.c of the corporate, whereas Demoulas controls 28 p.c.
Last week, Judge Travis Laster issued an opinion on the board’s pleaseprincipally saying the three board members had been nicely inside their rights to fireside Demoulas. The choice adopted a three-day trial in December, wherein Demoulas was combating to be reinstalled because the chain’s CEO.
The company conflict between Demoulas and the board, which had been occurring behind the scenes for a number of years, spilled out into the general public view last May when the board suspended Demoulas to research rumors about discussions of a doable work disruption, much like the 2014 boycott and walkout. No walkouts or main boycotts ended up happening this time round.
Now, main this chain of 90 supermarkets might be as much as Casassa, who has been with the corporate for greater than 50 years, beginning at Market Basket at age 14 as a bagger. Casassa was promoted to director of operations in July 2025.
Demoulas was the corporate’s president and chief govt, however the board isn’t naming a chief govt presently.
“Mr. Casassa embodies the very best of Market Basket,” board chair Jay Hachigian stated in a press release. “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.”
Jon Chesto might be reached at jon.chesto@globe.com. observe him @jonchesto.
