Paddy Cosgrave Steps Down as CEO of Web Summit

Paddy Cosgrave is an Irish entrepreneur who co-founded Web Summit in 2009.

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Web Summit is an annual technology conference held in Lisbon, Portugal; Dublin, Ireland; and other cities.

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The conference's topics center on internet technology, emerging technologies, and venture capitalism.

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Paddy Cosgrave is now leaving his CEO position after 14 years of his successful conference business.

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His resignation comes after a week of controversy surrounding comments he made about Israel and Palestine.

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“I am resigning as CEO of Web Summit with immediate effect,” he said in a statement provided to TechCrunch by Web Summit.

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“Unfortunately, my personal comments have become a distraction from the event. I sincerely apologise again for any hurt I have caused.”

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The move comes after Cosgrave’s remarks which prompted widespread outrage, with numerous venture capitalists and founders vowing to never again speak at one of Web Summit’s events.

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Web Summit is now going to appoint a new CEO as soon as possible because an event is planned in Lisbon between November 13th and 16th.

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Web Summit is 81% owned by Mr Cosgrave, according to accounts filed last year.

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