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We Are Market Basket by Grant Welker, Daniel Korschun

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9

“All In”

After the confrontation in July 2013, Arthur T. had managed, with the help of thousands of associates, to hold onto his job as CEO. But it was only temporary. The board held firm to its agenda of removing him and ratcheted up the pressure on Arthur T. and his team.

The board was more than just flexing its muscle; it was taking concrete steps to change the entire business model of the company. In essence, Market Basket was to look much more like its competitors. They wanted to replace Arthur T., they wished to disburse a huge sum of cash to shareholders immediately, they planned to take on debt for the first time, and they moved to change the way that Telemachus’s prized profit-sharing plan functioned. It was an attack on all fronts. ...

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