Market Basket Cans CEO, 2 Other Execs

The board of directors of Tewksbury, Mass.-based Demoulas Supermarkets, which operates more than 70 stores in New England under the Market Basket banner, has fired CEO Arthur T. Demoulas, along with Operations Director Bill Marsden and VP of Grocery Sales and Merchandising Joseph Rockwell, according to a report in the Lowell, Mass., Sun.

The "Save Market Basket" Facebook page also posted news of the firings on June 23.

The firings are the latest development in an ongoing feud between Arthur T. Demoulas and his cousin, Arthur S. Demoulas, which has spawned several lawsuits, including one filed by Arthur T. against Arthur S. and the grocery chain itself.