Saudi Prince opposed the appointment of Jack Dorsey as CEO of Twitter

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It was previously reported that on July 1, current Twitter CEO Dick Costolo is leaving his post. Co-founder of the company Jack Dorsi will be appointed acting general director. The likely reason for leaving Costolo is the dissatisfaction of shareholders who believe that the pace of service development is insufficient.

Nevertheless, now some shareholders of the company began to speak against the candidacy of Jack Dorsey. Saudi prince Al-Waleed ibn Talal, an early investor in a social network, does not support Jack Dorsey’s candidacy, Vedomosti writes . This was announced by the prince himself in an interview with the Financial Times.

Al-Walid ibn Talal believes that Twitter needs a leader who has extensive experience in the marketing field. At the same time, the prince called the attraction of new users a priority area for the work of the new CEO.

The Saudi prince in 2011 paid $ 300 million for a 3% stake in Twitter. Since then, he has increased his stake by 2%, bringing it to 5%.

Twitter capitalization now stands at $ 23.51 billion. Over the past year, it has decreased by 2.7%.