Paddy Cosgrave Steps Down as  CEO of  Web Summit

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

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

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

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

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

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

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

- Paddy Cosgrave

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.

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.

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

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