The Kuwati businessman promised that the candidate he has lined up will be a popular choice among supporters as he has previous connections with the club.
"I can promise the fans will be very happy with the signing. He's a good manager. He has a good record and everybody likes him," the Daily Star quotes Al Hasawi as saying.
"We have been speaking with the new manager. But I want to clear up one thing - everybody thinks Fawaz Al Hasawi interferes with the manager's position which is really, really wrong.
"We don't want to rush, we want to pick the right man. I don't want to say too much, but, yes, he has a connection."
Former City Ground favourite Pearce has been out of work since being sacked as England Under-21 coach in June last year.