News Summary
Market Basket has named Don Mulligan as the interim CEO following the termination of Arthur T. Demoulas. Mulligan, a long-time employee with 42 years at the company, is expected to provide stability during this turbulent period. The board’s decision comes after previous conflicts, with the leadership transition raising questions about the company’s future direction. Mulligan’s interim leadership aims to navigate the ongoing tensions while a search for a permanent replacement begins, amidst unresolved ownership disputes.
Lowell, MA — Market Basket has appointed Don Mulligan as the interim Chief Executive Officer following the recent termination of Arthur T. Demoulas, which has sparked considerable upheaval within the company. The board of directors announced Mulligan’s new role on September 15, 2025.
Mulligan has been a vital part of Market Basket for 42 years, joining the company in 1983 after beginning his career at an accounting firm. He has served as the chief financial officer for the last 26 years and is regarded as a steady influence amidst ongoing turmoil. Board chair Jay Hachigian referenced Mulligan as “the voice of consistency,” emphasizing his exceptional business skills and respect from associates throughout the organization.
The sudden leadership change follows significant conflict between Demoulas and the board, culminating in Demoulas’s termination on September 9, 2025. This conflict had been escalating since May 28, 2025, when Demoulas, alongside his two children and two key executives, was suspended after allegations that he was planning a work stoppage akin to a boycott that occurred in 2014.
Demoulas has publicly denounced the investigation against him, calling it a “farcical cover for a hostile takeover.” Despite attempts to mediate the disagreement in early September, those efforts were unsuccessful, leading to his firing. Following his termination, Demoulas initiated legal proceedings to contest the decision.
Ownership of Market Basket remains a contentious issue. Arthur T. Demoulas holds 28.4% of the grocery chain, while his three sisters collectively own 61.3%. The remaining 10.3% of shares is held in a trust for the 14 children of both Demoulas and his sisters.
Market Basket is a prominent grocery chain with 90 stores across Massachusetts, New Hampshire, Maine, and Rhode Island. The company boasts an annual sales figure of approximately $8 billion and employs around 32,000 workers.
Mulligan’s appointment as interim CEO follows a period of financial discussions and turmoil within the company, where he has previously collaborated with Demoulas in board meetings regarding the chain’s financial health. As the board now seeks a more permanent CEO to replace Mulligan, the company faces questions about its leadership direction amidst unresolved tensions regarding control.
This current situation mirrors past incidents, notably the significant walkout in 2014 where employees supported Demoulas during a temporary removal from his position. As the leadership transitions continue, all eyes will be on the response from both associates and customers as Market Basket aims to stabilize its operations under interim leadership while navigating these complex dynamics.
The board of directors is now tasked with the important job of finding a permanent replacement for Mulligan, who must balance maintaining company stability and navigating the conflicts that have arisen during this challenging transitional period.
Deeper Dive: News & Info About This Topic
- CBS News: Market Basket Interim CEO Appointment
- Wikipedia: Market Basket (supermarket chain)
- Boston Globe: Market Basket Appoints Interim CEO
- Google Search: Market Basket interim CEO
- WCVB: Market Basket Names Interim CEO
- Encyclopedia Britannica: Leadership
- Boston.com: Market Basket Interim CEO News
- Google News: Market Basket
- NBC Boston: Market Basket Interim CEO Announcement
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