Twitter's new CEO raises questions for investor Saudi prince
Twitter's new CEO raises questions for investor Saudi prince
Blog: Prince al-Waleed bin Talal, an early investor in the micro-blogging service, reportedly has reservations over the appointment of Twitter's new boss.
1 min read
16 Jun, 2015
Prince al-Waleed bin Talal has reportedly objected to Dorsey's appointment [AFP]
Prince al-Waleed bin Talal has reportedly objected to the appointment of Jack Dorsey as Twitter's permanent CEO.
The Saudi business tycoon was an early investor in Twitter and owns five percent of the company's shares.
"Jack has another company called Square, which requires a lot of attention and is a full-time job," Waleed told The Financial Times on Sunday, referring to mobile payments company.
Waleed's comments come only three days after the announcement that Twitter's CEO Dick Costolo would step down on 1 July to be replaced by Jack Dorsey, a co-founder of the company, as interim CEO.
The prince told the Financial Times: "I believe and trust Jack Dorsey is there on a temporary basis. The new leader has to be technically savy, and have an investor-oriented process and a marketing mentality."
Reuters, however, reported Monday that Waleed would support Dorsey if he wished to stand as permanent CEO.
In a written statement, Waleed said Dorsey knew the company well and "would bring the needed continuity".
Twitter has reportedly failed to reach its revenue targets and attract new users under former CEO Dick Costolo.
Dorsey is one of the original founders of Twitter, who previously served as the company's CEO until 2008.
This article is an edited translation from our Arabic edition.
The Saudi business tycoon was an early investor in Twitter and owns five percent of the company's shares.
"Jack has another company called Square, which requires a lot of attention and is a full-time job," Waleed told The Financial Times on Sunday, referring to mobile payments company.
Waleed's comments come only three days after the announcement that Twitter's CEO Dick Costolo would step down on 1 July to be replaced by Jack Dorsey, a co-founder of the company, as interim CEO.
The prince told the Financial Times: "I believe and trust Jack Dorsey is there on a temporary basis. The new leader has to be technically savy, and have an investor-oriented process and a marketing mentality."
Reuters, however, reported Monday that Waleed would support Dorsey if he wished to stand as permanent CEO.
In a written statement, Waleed said Dorsey knew the company well and "would bring the needed continuity".
Twitter has reportedly failed to reach its revenue targets and attract new users under former CEO Dick Costolo.
Dorsey is one of the original founders of Twitter, who previously served as the company's CEO until 2008.
This article is an edited translation from our Arabic edition.
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