Web Summit CEO quits after Israel controversy

LISBON – Irish entrepreneur Paddy Cosgrave has stepped down from his role as chief executive officer of Web Summit after his remarks following

attacks on Israel earlier in October

caused high-profile attendees, including Alphabet and Meta, to pull out of the show. 

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 organisers said in an emailed statement on Saturday. 

“Unfortunately, my personal comments have become a distraction from the event, and our team, our sponsors, our startups and the people who attend,” Mr Cosgrave said in the statement. “I sincerely apologise again for any hurt I have caused.”

Mr Cosgrave had sent a post on X, formerly Twitter, that said “war crimes are war crimes even when committed by allies,” directed at Israel’s response to Hamas.

The remarks caused a backlash from a number of venture capitalists and tech founders.

Mr Cosgrave posted an apology on Web Summit’s blog days later, and said he was sorry for causing “profound hurt” with the timing and content of his statement.

But it was not enough to stop a campaign calling for speakers and sponsors to pull out of the show, which had more than 70,000 attendees last year. 

In addition to Alphabet’s Google and Meta, Amazon.com, Intel, Siemens, and Stripe and a raft of venture capitalists said they had canceled plans to come to the show.

A group of Israeli investors issued a joint statement calling for a boycott of the event, according to a report from Israeli news site Calcalist. BLOOMBERG