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David Maquera was hired as the new CEO of Powell’s Books in September, WW confirmed Monday. He replaces Patrick Bassett, who led the company for five years. The Portland Business Journal first reported on the transition Monday afternoon, saying a Powell’s spokesperson had confirmed the change but declined to provide further comment. Powell’s did not respond to an emailed request from WW for comment.
Myka Dubay, the union representative for International Longshore and Warehouse Union Local 5, confirmed that Maquera had taken over as CEO in September. Dubay noted that Maquera has not attended any of the regular meetings between union representatives and the company and declined an introduction between him and union representatives. “There’s not much else we can share,” they added.
The company, which operates four stores across the Portland area, including its iconic downtown flagship store, has undergone four rounds of layoffs in the fiscal year that started in July. The Oregonian reported that Powell’s cut 13 jobs in October, bringing the total number of layoffs this year to 31. (Disclosure: This reporter was a temporary warehouse worker at Powell’s Books for a five-month period in 2014.)
Last year, PBJ reported that a real estate company owned by the Powell family had borrowed $4.5 million, which owner and president Emily Powell said was intended to address deferred maintenance and day-to-day needs, and to “elevate the experience of our bookstores for everyone.” Then-CEO Bassett told PBJ at the time that the company’s sales had not yet returned to pre-pandemic levels.
Bassett was hired in September 2020 to steward the bookstore’s recovery from the COVID pandemic. Emily Powell has served as CEO of the bookstore intermittently since 2011, including a stint immediately preceding Bassett’s hire. Her father, Michael Powell, opened the first Powell’s Books in 1970 in Chicago; her grandfather, Walter Powell, opened the downtown Portland store a year later.
Note: This story has been updated to accurately describe the opening of Powell’s Chicago and Portland stores.
