TEWKSBURY >> More than a decade after weeks of protests of his ouster brought the eastern New England grocery chain to a standstill, the Market Basket board of directors announced Wednesday they had placed CEO Arthur T. Demoulas on paid administrative leave amid an investigation.

In a surprise statement Wednesday, the three-member executive committee of the Market Basket board of directors announced Arthur T. Demoulas, along with “several other employees,” were placed on leave amid “credible allegations that Mr. Demoulas began to plan a disruption of the business and operations of Market Basket with a work stoppage.”

“The Executive Committee believes that (Arthur T. Demoulas) and others have taken these steps as improper retaliation for the Board’s directives requiring the CEO to work with the Board regarding the most basic corporate oversight and to provide the Board access to key employees,” said the board’s statement. “Mr. Demoulas has also resisted an appropriate succession plan for Market Basket, asserting that he has the unilateral right to appoint his children to succeed him without any consideration of the view of the Board or the majority owners of Market Basket.”

The move has echoes of the summer of 2014, when Arthur T. Demoulas and his cousin Arthur S. Demoulas engaged in a battle over control of the company, with thousands of Market Basket employees walking off the job for six weeks in support of “Artie T.”

Arthur T. Demoulas and three of his sisters would succeed in that fight, at the end buying out Arthur S. Demoulas’ share of the company for $1.6 billion.

His sisters are now opposing Arthur T. Demoulas, according to a Wednesday evening statement on his behalf from spokesperson Justine Griffin.

“Today, Mr. Arthur T. Demoulas was ousted from his position as President and CEO of Market Basket by his three sisters and their three appointed board members — Jay Hachigian, Steven Collins, and Michael Keyes. His daughter, Madeline, and son, Telemachus, and several other Market Basket executives were also placed on leave,” Griffin’s statement said. “Under Mr. Demoulas’ leadership in December of 2024, the company paid off $1.6 billion in debt that financed the purchase of the company in 2014. The company is currently operating at its peak performance and the notion that this board is going to conduct an investigation is a farcical cover for a hostile takeover.”

In Wednesday’s statement from the board, Market Basket officials warned of the effects of a work stoppage at a grocery chain “at a time of great economic uncertainty for many households.”

“Market Basket stores provide a place that our local communities consistently count on for both their livelihoods and daily needs—the Board has a responsibility to safeguard the company’s effective operations now and well into the future,” said Market Basket Director and Executive Committee member Steven Collins in the announcement.

Arthur T. Demoulas will be paid his full salary and company distribution share, while the 90 stores of the company will be run by the existing management team, according to the statement. The announcement noted there would be no changes in the positions, salaries or benefits of Market Basket employees, and “the ownership of the business will not change.”

In a memo to employees, the board said the CEO’s alleged plans for a work stoppage were “in retaliation against the Board for requiring that the CEO work collaboratively with the Board regarding basic company operations and plans.”

“Market Basket is a place that our local communities consistently count on for their daily needs and their livelihoods—actions from the top that put that at risk would harm Market Basket and its customers, vendors, and you, our valued associates. We are seeking to avoid that and ensure our business and culture remain intact,” the memo said.