Web Summit CEO Paddy Cosgrave Resigns Following Backlash Over Israel Comments

Cosgrave's resignation as Web Summit's CEO comes after backlash from tech giants following his tweets critical of Israel, with several companies including Amazon, Google, Meta, and Intel withdrawing from the upcoming event; despite his departure, events in Lisbon and Qatar will go on as planned and Cosgrave will remain the majority shareholder.

• Paddy Cosgrave, CEO and founder of Web Summit, resigned following a backlash caused by his tweets accusing Israel of committing 'war crimes' against Hamas, resulting in companies including Amazon, Google, Meta and Intel pulling out from the upcoming Web Summit.
• Cosgrave's contentious tweet was sparked by Israel's retaliation to a Hamas surprise attack which killed more than 1,400 people and took at least 222 hostages. Israel is reportedly preparing a ground invasion of Gaza in response.
• Cosgrave apologized for his comments and said his personal views had become a distraction for the event. He also clarified that the Web Summit will still take place as scheduled and a replacement CEO will be appointed soon.
• Despite resigning as CEO, Cosgrave remains the majority shareholder of Web Summit, with an 80% stake. A newly formed executive committee is currently running the organization until a new CEO is appointed.
• Web Summit confirmed that the flagship event in Lisbon and an event planned for February 2024 in Qatar will proceed as planned, with some companies which initially pulled out reconsidering their boycott.

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