Prince Alwaleed U-turns on interim Twitter boss comments

Saudi prince says he would support Jack Dorsey should he pursue permanent position, Reuters reports

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Prince Alwaleed U-turns on interim Twitter boss comments Prince Alwaleed: Should Mr. Dorsey wish to take on the CEO role, I would support him (Getty Images)
By  Tom Paye Published  June 16, 2015

Prince Alwaleed bin Talal, a Saudi royal and early investor in Twitter, has apparently U-turned on comments that the micro-blogging site's co-founder and interim CEO, Jack Dorsey, would not be a suitable candidate for the full-time job.

Earlier this week, the Saudi prince was quoted by the Financial Times as saying that Dorsey would struggle to secure the CEO job at Twitter permanently because of his other commitments. However, a recent Reuters report has quoted him as saying that he would back Dorsey if he wished to formally pursue a return to Twitter as the CEO.

Alwaleed said he "knew Dorsey well and that as one of the founders who knows the company very well he would bring the needed continuity" while the company searched for a new chief executive. This was said in a written statement to Reuters, the news organisation reported.

"And I will add now that should Mr. Dorsey wish to take on the CEO role, I would support him," the prince added.

Dorsey was named interim CEO last week after CEO Dick Costolo announced that he would be stepping down on July 1 in a surprise move. Under Costolo, the company has struggled with user growth, while monetisation on the platform, through various new advertising products, has also failed to meet expectations. According to reports, Costolo had lost a significant amount of goodwill on Wall Street due to the company's past couple of disappointing financial reports.

Prince Alwaleed was an outspoken supporter of Costolo.

However, some in the industry are viewing a potential Dorsey return as positive news, with some comparing his re-instatement as CEO as akin to the return of Steve Jobs to Apple in the late 1990s. That said, no official announcement has been made as to who will officially succeed Costolo come July.

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