Prince Alwaleed says Twitter needs new leader: Report

Prince Alwaleed bin Talal, one of the major shareholders of Twitter, said the social media platform needed a new chief executive with marketing experience who would prioritize winning new users, the Financial Times reported, citing an interview with the billionaire prince and  chairman of the Saudi-based investment vehicle, Kingdom Holding.

Jack Dorsey, co-founder of the company, returned as the interim chief executive after the resignation of Dick Costolo on Thursday amid criticism about the company’s growth.

“Jack has another company called Square which requires a lot of attention and a full-time job around there. I believe and trust that Jack Dorsey is there on a temporary basis,” he told the Financial Times. “The new leader has to have tech savviness, an investor-oriented process and was a marketing mentality.”

In 2011, Prince Alwaleed paid $300 million for about 3 percent stake in Twitter when it was still a private company. He said he now owns close to five percent of the public company through personal investment and through Kingdom Holding, according to the Financial Times.