TEWKSBURY, MASS. (WHDH) – The Chief Executive Officer (CEO) and minority shareholder of Market Basket has been placed on paid administrative leave amid an investigation into his conduct.

Officials say the investigation will look into Arthur T. Demoulas and an alleged plan he had to disrupt the business and operations of Market Basket with a work stoppage.

The move is reminiscent of a strike that occurred in the summer of 2014. Thousands of people protested after he was fired, a move made by the company’s board back then.

The board is now launching an investigation into his conduct almost 11 years later.

“Once we got information that there might be a work stoppage, the board really didn’t have a choice but to act and step in,” said Jay Hachigian, Market Basket Chairman of the Board.

“Market Basket stores provide a place that our local communities consistently count on for both their livelihoods and daily needs—the Board has a responsibility to safeguard the company’s effective operations now and well into the future,” said Steven J. Collins, Director of Market Basket.

A spokesperson for Demoulas said in a statement, “Today, Mr. Arthur T. Demoulas was ousted from his position as President and CEO of Market Basket by his three sisters and their three appointed board members – Jay Hachigian, Steven Collins, and Michael Keyes. His daughter, Madeline, and son, Telemachus, and several other Market Basket executives were also placed on leave. 

Under Mr. Demoulas’ leadership in December of 2024, the company paid off $1.6 billion in debt that financed the purchase of the company in 2014. The company is currently operating at its peak performance and the notion that this board is going to conduct an investigation is a farcical cover for a hostile takeover.”

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