Powell’s Names New CEO

Powell’s Books, the largest independent bookstore in Portland, Ore., has named David Maquera as its new CEO in September, local news outlets confirmed. He succeeds Patrick Bassett, who led the company for five years.

The hire follows dozens of layoffs across several departments at Powell’s earlier this fall. Since July, the bookstore has furloughed more than 30 employees, including a total of 13 roles in October. Like other indies nationwide, Powell’s cited increased operating expenses and tight margins as the reason behind the recent terminations.

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