The civil war at Market Basket headquarters in Tewksbury escalated Tuesday after the public learned that two longtime board members had been fired. Tom Gordon and Joe Schmidt, both strong allies of Arthur T. Demoulas, were dismissed from the Market Basket Board of Directors. How could this affect our Fall River and New Bedford locations? Arthur T. Demoulas says both of these men were titans in the grocery industry.
Arthur T. Demoulas Responds to Firings
“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. Stephen 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…