Paddy Cosgrove, the Chief executive of Web Summit, has announced he will be resigning with immediate effect from the tech company.
This follows several companies, such as Google, Meta, Intel and Amazon pulling out of the conference which will be held in Lisbon in November, following comments from Mr Cosgrave on Israel.
Following his comments, Mr Cosgrave issued an apology, in which he said: "I understand that what I said, the timing of what I said, and the way it has been presented has caused profound hurt to many. To anyone who was hurt by my words, I apologise deeply.
"What is needed at this time is compassion, and I did not convey that. My aim is and always has been to strive for peace. Ultimately, I hope with all my heart that this can be achieved.
A Web Summit spokesperson said the event would go ahead as planned in Lisbon between November 13th and 16th.
“Web Summit will appoint a new CEO as soon as possible,” the spokesperson added.
Actor Gillian Anderson has also decided to pull out of Web Summit. A spokesperson for G-Spot, the former X-Files actor’s drinks brand, said she had made the decision to withdraw from a slated appearance at the event because the “brands’ values do not align”.
The company currently employs 200 people in its Dublin headquarters, and over 300 globally. Despite several withdrawals from the company by several major firms, it is understood staff's positions at the company is not under threat.
The Web Summit was originally set up and held in Dublin before being moved to Lisbon in 2015.
On Friday, a spokesman for the European Investment Bank said it is currently considering its participation in the event next month.
The spokesman said the EU development bank, which has attended the Web Summit in recent years, had noted Mr Cosgrave’s initial comments as well as his apology.
