Saudi Billionaire Does Not Want Jack Dorsey To Be Permanent Twitter CEO

Saudi billionaire Prince Alwaleed bin Talal said he would not support a decision to make Jack Dorsey permanent chief executive of Twitter Inc. and proposed that he return to his job running mobile payments company Square. In an interview with the Financial Times, the prince said Twitter needs a leader with a strong background in marketing who would strive to attract new users. Dorsey was named interim CEO of the microblogging service last week when Dick Costolo announced plans to step down on July 1. The prince is one of the earliest and biggest shareholders of Twitter. Twitter shares were down 0.5% in premarket trade, and are up just 0.1% in the year so far, while the S&P 500 has gained 1.7%.