Key Points
Paddy Cosgrave has stepped down from his role as chief executive officer of Web Summit after his remarks following attacks on Israel earlier this month caused high-profile attendees, including Alphabet Inc. and Meta Platforms Inc., to pull out of the show.P)..
Web Summit will appoint a new CEO as soon as possible and the show, due to start on Nov. 13 in Lisbon, will go ahead as planned, the organizers said in an emailed statement on Saturday..
Cosgrave posted an apology on Web Summits blog days later, and said he was sorry for causing profound hurt with the timing and content of his statement..
Still, the resignation was a surprise after Cosgrave indicated as recently as last week that hed stay on and reassured employees that the show had enough money in the bank to continue for at least two years, according to a report earlier on Saturday from Irish newspaper the Business Post, citing Web Summit employees it didnt identify..
