How many CEOs can say their employees would go on strike for six weeks, forgoing much-needed paychecks, to KEEP them at the company's helm?
Arthur T. Demoulas can.
In this session, we'll discuss his story as told in the book "We Are Market Basket". It chronicles the 2014 rise, fall, and redemption of Demoulas's company, Market Basket - a popular New England supermarket chain.
The long-time CEO, known as "Artie T", was ousted by his cousins after a long, protracted battle for company ownership. All 25,000 of the chain's workers and managers walked off the job in protest. They organized rallies in support of their beloved boss, and customers eagerly joined the fight. Hundreds, many on tight budgets already, boycotted Market Basket even though it meant spending more on groceries in the short term. The strike's economic impact got so big politicians were forced to take sides, and eventually the Market Basket board of directors were forced to restore Artie T as CEO.
-What is it about the way Arthur T. Demoulas ran Market Basket that provoked such strong loyalty?
-How does a company like Market Basket that is spread across three states maintain a culture that makes everyone - from cashier to customer - feel like family?
-Can other companies become an industry leader by prioritizing stakeholders over shareholders the way Market Basket does?
Join us on July 12th as we answer these questions and more, unpacking this complex story of leadership and loyalty.