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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStatement from Artie T
Last edited Fri Aug 8, 2014, 06:57 PM - Edit history (3)
Statement from Artie T. Sorry it's so small...got it from MB fb page
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Statement from the BOD
Letter from Independent Directors on the board
The Independent Directors of the Demoulas Board announced today a proposal to get Market Basket associates back to work meeting customers' needs. To achieve this goal, the three Independent Directors have formally offered 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.
Our associates and suppliers are committed to meeting the needs of our 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.
Any delay to reaching agreement on this path forward simply harms associates, customers and the Company. It is time to move on, continued the Independent Directors. Since last Saturday, the Independent Directors have worked around-the-clock 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.
Several days ago, as part of a continuing attempt to allow people to get back to 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.
Mr. Demoulas has yet to respond to that proposal, or any other that would separately resolve the situation in the interim, while he and his shareholder group continue pursuing the purchase of the remaining shareholders' interests in the Company.
There is no reason to not meet in the middle, said the Independent Directors. Mr. Demoulas gets his management team back in place, associates can get back 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.
Furthermore, the Independent Directors welcome the opportunity to meet with Governor Patrick and Governor Hassan and gain their assistance and support at stabilizing the business for the benefit of all associates, customers, vendors and communities.
http://www.myfoxboston.com/story/26235943/market-basket-board-of-directors-lets-all-get-back-to-work
MANative
(4,112 posts)Did I miss something?
graywarrior
(59,440 posts)MANative
(4,112 posts)from about two weeks ago, and not in response to today's letter.
graywarrior
(59,440 posts)I'll leave it so people won't think I'm a total genius. lol
MANative
(4,112 posts)graywarrior
(59,440 posts)hlthe2b
(102,191 posts)the Board of Directors to Arnie T. Is that right or did I miss something?
graywarrior
(59,440 posts)Hope that made it more clear.
hlthe2b
(102,191 posts)I just added the most recent statement
tblue37
(65,269 posts)Response to graywarrior (Original post)
Laelth This message was self-deleted by its author.
Downwinder
(12,869 posts)They also forget one important factor to this: WE ARE NOT RETURNING WITHOUT ATD AS OUR CEO! Have we not made this abundantly clear for the past month if not the past 14 months? Can you be so obtuse and so deaf to our pleas, our protests our boycotts? You three gentlemen have screwed this company up so royally and now you are trying to find some middle ground which would have us all return to work under the fantastic team of Thornton and Gooch? These two people are not fit to lead any single associate in this company and we will not set foot on that property or in those stores until they are gone and ATD is back in his rightful place.
http://wearemarketbasket.com/