Sweden’s Storytel proposes Hans-Holger Albrecht as new chairman


STOCKHOLM (Reuters) – Swedish audiobook streaming group Storytel has proposed Hans-Holger Albrecht as new chairman after Stefan Blom determined to step down, it stated late on Thursday.

Albrecht, 58, has held a number of high positions within the media trade, together with in music streaming service Deezer, telecoms operator Millicom and e-sports and gaming agency MTG.

Storytel, which has 1.8 million subscribers in over 25 markets with round 700,000 titles globally, stated in November it had agreed to purchase Audiobooks.com, marking its entry into the U.S. market.

“Hans-Holger Albrecht has a robust observe file inthe media trade as effectively as confirmed expertise from worldwide growth,” Lars Bergkvist, chairman of the Nomination Committee, stated in an announcement.

Blom stated that with the acquisition of Audiobooks.com a “new chapter” had begun for Storytel, during which non-public fairness agency EQT owns a 9.7% stake.

“After contemplating my general portfolio, I’ve determined tostep down from this position to go away extra room for my different engagements,” he stated.

(Reporting by Helena Soderpalm; Editing by Simon Johnson)

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