Market Basket, the favored grocery retailer chain embroiled in a household feud, has named a brand new interim CEO.
The shop’s board introduced this morning that CFO Donald Mulligan will now take over the reins after former chief Arthur T. Demoulas was fired.
Right here’s right now’s announcement:
The Board of Administrators of Market Basket has named longtime Chief Monetary Officer, Donald T. Mulligan as Interim Chief Govt Officer of the Firm, the place he has labored for the previous 42 years.
“Don Mulligan is the voice of consistency at Market Basket, one that our associates and customers can count on to proudly continue the same thriving culture and the ‘More For Your Dollar’ shopping experience. The Board has worked closely with Mr. Mulligan and has come to appreciate his exceptional business acumen, the respect and admiration our associates have for him, and his deep understanding of the history and culture that make Market Basket so special,” stated Board Chair Jay Okay. Hachigian.
Mr. Mulligan started his profession at Sullivan Bille PC, a Tewksbury accounting agency, the place he labored on the Market Basket account. There he turned acquainted with Telemachus “Mike” Demoulas, who employed him full-time in 1983. Over the subsequent 42 years, he labored his approach up within the Firm and in 1999 was promoted to Chief Monetary Officer, the place he has held for the previous 26 years. As a Lowell native, Mr. Mulligan graduated from Lowell Excessive Faculty and the College of Lowell (later UMass Lowell).
“We are thrilled to have a homegrown leader of Mr. Mulligan’s caliber step into the role of Interim CEO to guide Market Basket and ensure seamless leadership for our associates, customers, and communities,” Hachigian stated.
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