3 Market Basket directors outline proposal
The statement reads:
to get Market Basket associates back to work meeting customers' needs.
Arthur T. Demoulas (Mr. Demoulas) a path forward that would allow a return to
normal for associates, vendors, customers and communities, and would allow
Mr. Demoulas to simultaneously continue to pursue his stated intent to acquire
the entire ownership of the Company from the majority owners.
customers. We all take great pride in the work we do," said a statement by the
Independent Directors. ?Our goal is to move forward, while making sure
associates and customers are taken care of.?
customers and the Company. It is time to move on," continued the Independent
trying to find a path forward that might constructively resolve both the
transaction-related discussions, and simultaneously and separately, begin to
address the tangible harm that has been visited on so many by so few.
their jobs and lives, the Independent Directors of the Board transmitted to Mr.
Demoulas' legal representatives a detailed agreement that would allow him and
his entire former management team, including all individuals who resigned or
were dismissed, to assist the Company's return to normal business operations
and people to get back to their jobs and lives. That agreement would not place
Mr. Demoulas in control of the Company during this interim period, but would
instead retain the current management.
separately resolve the situation in the interim, while he and his shareholder
group continue pursuing the purchase of the remaining shareholders' interests in
to doing their job, customers can get back to shopping and the company gets the
breathing room needed to create an orderly and productive way forward."
Governor Patrick and Governor Hassan and gain their assistance and support at
stabilizing the business for the benefit of all associates, customers, vendors and