Prince Alwaleed says Twitter interim boss not CEO candidate: FT
Kingdom Holding chairman cites Jack Dorsey’s other job commitments, calls for leader with ‘marketing mentality’
Saudi Arabia's Prince Alwaleed bin Talal bin Abdulaziz al Saud, an early stakeholder in Twitter, is not in favour of co-founder Jack Dorsey being appointed as permanent CEO because of his other job commitments, the Financial Times reported.
The Saudi prince was an outspoken supporter of Dick Costolo, who recently stepped down as CEO of the microblogging business, amid flagging user growth. Dorsey has been chosen as interim chief executive while a replacement is sought.
"Jack has another company called Square which requires a lot of attention and a full-time job round there. I believe and trust that Jack Dorsey is there on a temporary basis," Prince Alwaleed told the FT.
"The new leader has to have tech savviness, an investor-oriented process and a marketing mentality."
Prince Alwaleed is chairman of investment firm Kingdom Holding. He bought a $300m stake in Twitter in 2011, funded in part by Kingdom.
Twitter now faces the same challenge as before Costolo's departure: to inflate active users and compete with rival social platforms for advertising revenue. Some analysts believe the company is ripe for a takeover, with Google named as a possible suitor.