Another show of support set for Market Basket CEO

Market Basket employees are gearing up for another show of support for CEO Arthur T. Demoulas, as the grocery chain's board was set to meet again today in Boston and consider the hiring of an executive search firm.

The board has been silent since its nearly 13-hour, July 18 meeting during which Demoulas' firing was on the agenda but never addressed, while hundreds of his employees and other supporters waited outside.

Director Arthur S. Demoulas, a cousin of the CEO who has been seeking his ouster — another chapter in a long-running family feud over the Tewksbury-based chain of 72 stores — did not return Herald calls or emails for comment.

The agenda for today's meeting at the Harvard Club includes several items likely to be contentious for the divided board, which is said to have a new majority in Arthur S. Demoulas' camp. They include a report on hiring Spencer Stuart, an executive search consulting firm. It's unclear if the board plans to engage the company to find a new Market Basket CEO.

The board's public relations firm, Kekst & Co., did not respond to Herald calls, and a spokeswoman for CEO Arthur T. Demoulas declined comment.

Changes to Market Basket's employee profit-sharing plan's trustees and administration also will be on the table. Other agenda items include discussions of a payout of "excess cash" to shareholders, an ongoing dividend payout policy and instructing the CEO and CFO to obtain loan proposals for the currently debt-free company.

A review of the independence of the board's directors also is on the agenda. A 1999 court ruling mandated that the board include three independent members.

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