Despite tough times for independent booksellers, Powell's Books is poised for a new era when Emily Powell takes over as president in mid-July.
Powell, 31, is the daughter of current President Michael Powell, who bought the iconic Portland bookstore from his father in 1981.
The succession plan has been in the works for four years, since Emily joined the family business after working as a pastry chef and real estate analyst. Michael Powell, his wife Alice, and Emily will become co-owners of the store, “an estate planning move,” Michael said.
Hoover’s online database estimated Powell’s sales at $64.8 million in 2008. The company — one of the few unionized independent bookstores in the country — employs about 500.
Read more at the Portland Business Journal.