Alwaleed backs Twitter interim CEO Dorsey, says brings continuity

Prince Alwaleed Bin Talal
Daniel Acker | Bloomberg | Getty Images

Saudi Arabia's Prince Alwaleed bin Talal, one of Twitter's earlier investors, told Reuters he believed Jack Dorsey would bring continuity to the social messaging firm and he would back him if he wished to become chief executive permanently.

Dorsey, a co-founder of Twitter, was named interim head last Thursday after Chief Executive Dick Costolo abruptly announced he was stepping down effective July 1.

In a written statement to Reuters, 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.

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

Alwaleed earlier was quoted by the Financial Times as saying Dorsey should not get the job permanently because of his other job commitments.

In a statement, Alwaleed told CNBC, "What the FT reported was wrong!"

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CNBC contributed to this report.