A longtime manager and the director of operations at Market Basket will become the new president, the grocery store’s board announced, while the interim CEO, who has been serving since Arthur T. Demoulas was fired, is set to retire.
Chuck Casassa, the new president, “embodies the very best of Market Basket,” said Jay Hachigian, chair of the board, in an announcement. Like Demoulas, Casassa has worked at the company for decades.
He started as a teenage bagger in 1976 and was promoted over the years, becoming a store manager in 1987, a supervisor of a few dozen stores in 2017, and rising to director of operations last year. His career has included time in New Hampshire, managing the Seabrook store, according to Seacoast Online. Along the way, he “earned a reputation for knowing and caring for Market Basket customers and associates, as well as mastering operational details,” the announcement states.
Don Mulligan, the chief financial officer, has stood at the helm of the company since Demoulas was fired in September. Mulligan will retire but remain on as an advisor through the leadership transition, the board said. A new CEO has not been named.
The announcement comes less than a week after a Delaware court determined the board’s moves to suspend and then fire Demoulas were legal.
The grocery chain has 90 locations across New England, including three in Concord alone. With nearly 400 employees total, it’s the capital city’s sixth-largest employer as of 2024.
A Delaware judge determined that the board of directors concluded rationally, reasonably and fairly, “that the CEO’s longstanding resistance to board oversight, imperious manner, and refusal to compromise with his sisters threatened the company.”
The split came after months of tensions between leadership, with the board saying Demoulas refused to share basic financial reports and cooperate on a succession strategy. Demoulas had claimed that his three sisters and the new board members they appointed were seeking to leverage the company’s success for personal financial gain.
In the wake of the court’s decision, the board promised to continue the grocery store’s – and Demoulas’ – brand of affordability and strong support for workers.
“Market Basket will continue to be a family-owned and operated business, offering the lowest prices and best value for customers, creating good jobs with profit sharing for associates, and supporting its customers and communities—well into the future,” said a collective statement last week.
Still, some shoppers have noticed price increases at Market Basket, in some cases above market competitors Hannaford and Shaw’s for certain items.
The board thanked Mulligan for his 27 years as CFO.
“The Board is deeply grateful to Mr. Mulligan for his many years of dedicated service, the proud example he set for our associates as a leader of Market Basket, and his ‘customer first’ approach to his responsibilities.”
