Arthur T. Demoulas denounces the firing of longtime Market Basket executives Tom Gordon and Joe Schmidt, calling the board’s move a “pre-planned coup” and vowing to fight the decision.
Mr. Arthur T. Demoulas issued a strong statement last week following the dismissal of longtime Market Basket executives Tom Gordon and Joe Schmidt by the company’s Board of Directors.
The statement, attributed directly to Mr. Demoulas, criticizes the decision and the individuals behind it:
“Stephen Collins called Tom Gordon and Joe Schmidt today and fired them. In addition to being men of strong character, these are two of the brightest and best grocery store operators in the business, and their extraordinary work has been key to building this company and its culture. This is among the worst decisions that could be made by this board. Steven Collins of Exeter Capital doesn’t understand this company’s culture. Nor do his fellow board members Jay Hachigian of Gunderson Dettmer and Michael Keyes of Intercontinental Real Estate. To them, Tom, after 50 years with the company, and Joe after 39 years, are easily cast aside. They are just collateral damage in this pre-planned coup. To Market Basket, Tom and Joe are part of the heart and soul of the company and key executives in its immense success to date. They are men of integrity and honor and belong on the Market Basket team, and we will use all efforts to reverse this heartless and unwarranted decision.”
Tom Gordon and Joe Schmidt have been pivotal figures in Market Basket’s operations for decades. Their abrupt termination marks a significant shift in leadership at the beloved regional grocery chain — and signals ongoing tensions between company leadership and its board.
Kari Weinstein
Kari studied Journalism and Advertising at Boston University and lived in Boston for 10 years, most recently moving to Tewksbury in early 2024. She has experience writing and producing content for radio and television.
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