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

Deezer CEO Hans-Holger Albrecht poses for a photograph in the Deezer office in London, Britain, August 23, 2017. REUTERS/Hannah McKay

STOCKHOLM, Jan 21 (Reuters) – Swedish audiobook streaming group Storytel (STORYb.ST) has proposed Hans-Holger Albrecht as new chairman after Stefan Blom decided to step down, it said late on Thursday.

Albrecht, 58, has held several top positions in the media industry, including in music streaming service Deezer, telecoms operator Millicom (MICC.F) and e-sports and gaming firm MTG (MTGb.ST).

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

“Hans-Holger Albrecht has a strong track record in the media industry as well as proven experience from international expansion,” Lars Bergkvist, chairman of the Nomination Committee, said in a statement.

Blom said that with the acquisition of Audiobooks.com a “new chapter” had begun for Storytel, in which private equity firm EQT (EQTAB.ST) owns a 9.7% stake.

“After considering my overall portfolio, I have decided to step down from this role to leave more room for my other engagements,” he said.

Reporting by Helena Soderpalm; Editing by Simon Johnson

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