Business & Tech

Market Basket Ex-Trustee Shares Concerns Over Company's Profit-Sharing

Employee concerns over Market Basket's profit-sharing plan have been growing since July.

Written by Christopher Gambon

An ousted Market Basket trustee recently voiced his concern over the future company's employee profit-sharing program, according to a report from the Boston Herald.

Bill Marsden, director of operations for the Tewksbury-based company, is a 55-year employee of the grocery chain and a trustee of the employee profit-sharing program for eight years, according to the Herald.

The company pays 15 percent to 20 percent of eligible employee yearly salaries, without taking contributions from employees, according to the Herald. 

Concerns over the profit-sharing plan arose when a board shift gave majority power to Arthur S. Demoulas, threatening the ouster of his cousin and CEO of the company, Arthur T. Demoulas, according to the Herald. 

“This is the crown jewel of our company," Marsden told the Herald. "It’s invested wisely and with great care and safety in mind."

After a July board meeting in July at which Arthur T. Demoulas dodged an ouster and retained his CEO position, workers fear that if Demoulas is removed, their profit sharing and bonuses could be cut. They also said prices could rise for consumers.


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