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PW: Stevens to Head Wallace Chain

-- Publishers Weekly, 3/23/1998

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Stevens to Head Wallace Chain
-- 3/23/98


Steve Stevens, who resigned as president of Crown Books in October (News, Oct. 6) has been appointed president and chief operating officer of Wallace's Bookstores Inc. Stevens succeeds Clisby M. Jennelle III, who has been named vice-chairman and CEO. Based in Lexington, Ky., Wallace's is a college wholesale book and bookstore management company. At present the company manages 79 college bookstores and competes in the college market with Barnes &Noble and Follett.

A spokesperson for Wallace's said the appointment of Stevens d s not necessarily mean that the company is looking to expand into the general book area. Last fall, while Stevens was still heading Crown, Wallace's considered acquiring the bookstore chain, but the deal was never consummated (News, Sept. 15, 1997). In a statement, Stevens said he was "excited about the opportunities for innovation and growth in college bookstores."

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