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


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

STOCKHOLM (Reuters) - Swedish audiobook streaming group Storytel 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 and e-sports and gaming firm MTG.

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.

"Hans-Holger Albrecht has a strong track record inthe 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 owns a 9.7% stake.

"After considering my overall portfolio, I have decided tostep 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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