<p>There seem to be storm clouds brewing on the horizon for Market Basket even thought Arthur T. Demoulas remains CEO of the highly successful Market Basket grocery store chain. According to a source noted in the New Hampshire Union Leader, who was briefed on the outcome of a board meeting held Thursday, while there was no vote to remove Demoulas, the board did vote to distribute $250 million in company operating funds to shareholders, and to hire an executive search firm. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The board has met at least four times recently with another meeting tentatively scheduled for Sept. 19 and appears to be determined to shake-up the leadership of the organization, the source reported.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The Arthur S. Demoulas faction recently gained a majority on the board and set into motion a series of actions that have troubled the company's 22,000 employees. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>They are concerned that plans to pay millions more in dividends to a handful of shareholders, all of whom are wealthy Demoulas family members, will derail the company's success, impede its growth, drain their profit-sharing plan and demoralize an effective workforce.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>In a lawsuit filed on June 26 to force a board meeting, attorneys for the Arthur S. Demoulas faction maintained that the CEO's tenure was "littered with related-party transactions between Market Basket and entities owned by Arthur T . or his family members, and by a remarkable unwillingness to defer to the board."</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>According to the source, the board also voted on Thursday to explore establishing a line of credit, which further concerns employees who have spoken proudly of the fact that the company carries no debt.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>"It's interesting that this new board is meeting so frequently and making such drastic decisions on a lot of these issues," the source noted.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Stay tuned to AndNowUKnow as we follow the issue.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.unionleader.com/article/20130824/NEWS02/130829597/0/SEARCH" target="_new">Market Basket</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
