We all work hard, we are all dedicated and loyal and we are all compensated based on our responsibilities and our seniority. We all receive bonuses and for part and full time hourly associates those bonuses are true bonuses from a grateful company but for salaried associates, those that are Department Head level and up, the bonuses received are part of our annual compensation. What would you do if you were told right before bonuses were to be handed out that you weren’t going to receive one? What if that bonus was a huge part of your annual compensation? What would you do if you asked for the reason you weren’t getting your bonus and you weren’t given one?
What we hear through the grapevine is that is exactly what happened to Bill Marsden, 56 year associate and number two man to both T. A. Demoulas and A. T. Demoulas. Dedicated? No one more dedicated, first one in the office every day and last one to leave. Loyal? Without question there is no one more loyal to T A and A T Demoulas or the company for that matter. BM has run every single new store and remodel, small and large, in our company for almost all of his 56 year tenure. BM is a man of integrity and honesty always making decisions, some of them difficult, with the best interests of the company in mind. BM has always been the man that the associates could go to and ask questions, you might not like the answers but you would get one. BM always answers his own phone if he is at his desk and he always returns calls if he isn’t in the office. Bill also served as a profit sharing trustee, without pay for several years until the BOD fired him from this position, again without a reason given to him.
Isn’t it ironic that the man people can go to for answers and returned phone calls can’t get answers or even a response from our Board of directors.
Isn’t it ironic that the BOD doesn’t want to pay him his compensation yet they have accepted for review, a study they had commissioned, regarding compensation for Board members. We think this BOD will be raising their own compensation in the near future.
Isn’t it ironic that the man the BOD replaced BM and Harold Sullivan with, Ron Weiner, was just voted to be compensated at the committee rate for serving as a profit sharing trustee.
Isn’t it ironic that men of honesty and integrity like BM and ATD have to deal with the likes of this Board who have neither integrity or honesty.
Why would the Board withhold BM’s compensation? We can only speculate as to their reasons but we feel that it is unjust to withhold a person’s pay and then give no reason to him. Could it be that his communication to Market Basket’s associates through letters about the bonus amount proposed by ATD and his firing as profit sharing trustee angered the “A” and so called independent directors? If that is the case this Board has shown their true colors, what we have known all along, they have an agenda and it has nothing to do with what is in the best interests of the company. These men hide in the shadows while making decisions that affect peoples lives with utter disregard for anyone or anything except the wishes of their master, ASD.