By Matt Schooley
Inside of the Chelmsford Street Market Basket, it's business as usual. But higher up in the company, a major storm continues to brew, according to a report in the Boston Globe.
In their story, Demoulas, which owns the chain of Market Basket stores, is going through a major power struggle between CEO Arthur T. Demoulas and his cousin, Arthur S. Demoulas.
"It certainly appears to be in my judgement a group of shareholders looking to extract large amounts of cash out of the company," said Arthur T. Demoulas in the story, which noted that there are nine shareholders, all members of the family.
According to the newspaper, on June 24 the board was set to vote to fire Arthur T., but a quorum wasn't present because those supporting Arthur S. did not arrive at the meeting. As a result, the family was given a court order requiring them to hold a board meeting on July 18.
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