Photo: James Rojas/WBZ NewsRadio
BOSTON (WBZ NewsRadio) — Market Basket has named an interim CEO, a week after Arthur T. Demoulas was fired as head of the company.
The board of directors has chosen longtime Chief Financial Officer Donald Mulligan to take over the role, the company announced Tuesday.
Mulligan has worked at Market Basket since 1983, after working on the Market Basket account at the Tewksbury accounting firm Sullivan Bille PC. The Lowell native has held the title of CFO since 1999, according to the company.
“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,” said Board Chair Jay Hachigian in a press release. “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.”
The board fired Demoulas on Sept. 10 after a months-long investigation into allegations that he was planning a work stoppage.
Demoulas denies those allegations, and his spokesperson said in a statement last week that the investigation was a "farcical cover up for a coup.”
Following the firing, some Market Basket shoppers told WBZ NewsRadio that they were sad and angered to see Demoulas go.
U.S. Rep. Lori Trahan, who represents the state’s 3rd congressional district, wrote in an open letter to the Market Basket board last week that she was “hurt” by the decision, asking members to “remember what this company means to the people who love it.”
In a press release announcing Demoulas’ removal, the board assured customers that Market Basket “will not change its operations, profit-sharing, bonuses or culture, and will continue to offer the best groceries at the lowest prices anywhere in New England—well into the future.”
WBZ NewsRadio has reached out to Demoulas for comment.
WBZ’s Drew Moholland (@DrewWBZ) reports.