Storytel founder Tellander steps down as chief executive

Jonas Tellander, the founder of Swedish subscription audio-and e-book streaming giant Storytel, is stepping down as chief executive officer.

Tellander, who leaves his role today (18th February) will remain on Storytel’s board of directors, while deputy c.e.o. Ingrid Bojner steps in as interim c.e.o. and the board initiates a search for his successor. Tellander has been at the helm of the company since 2005, when he founded it with Jon Hauksson. 

“Thirteen years ago, I stood in front of the investors in the Swedish public service broadcaster SVT’s adaptation of ’Dragon’s Den’, trying to convince them that Storytel and audiobooks on mobile phones would be big one day," he said. "Today, all my wildest dreams about Storytel have come true. The audiobook has also helped the book industry grow, which makes me extra proud. It’s time for new leadership at Storytel, 17 years of full focus on Storytel has taken its toll. The team is now stronger than ever and will, under Ingrid’s leadership, take big steps this year. 

"Personally, after a little time off, I look forward to continuing to create value in Storytel as an owner and board member. Over time, I also strive be a strong and genuine voice in society in matters concerning reading and entrepreneurship."

Financially the company has gone from strength to strength. Its revenues for the last quarter of 2021 were up 20% on the previous year, in line with its forecast, while full-year 2021 streaming revenues came in at 2,251 MSEK (million Swedish krona) or £182m, also up by 20% year on year and in line with its forecast of 2,250 MSEK. The total number of paying subscribers by the end of the year was 1.8 million, up 22% year on year. 

In November last year, the company acquired Audiobooks.com from owner KKR for $135m (£101m), extending its reach into the English language audio market.

Hans-Holger Albrecht, chairman of the Storytel board, said: "Jonas Tellander has informed the board that he wishes to step down as c.e.o. and take a different role in the company, as board member and active owner. On behalf of the board, I want to thank Jonas for his unmatched dedication, visionary leadership and relentless resilience. He has not only founded the company – he has reinvented an entire industry and we are very happy that he will be part of our journey also going forward."