Web Summit CEO Paddy Cosgrave steps down in wake of controversy over his Israel comments

• Paddy Cosgrave, the CEO of Web Summit, announced Saturday he’s stepping down immediately.
• His resignation comes after several companies pulled out of the event over his Israel comments. 
• Cosgrave also issued a statement earlier this week apologizing for the “profound hurt” he’d caused.

Paddy Cosgrave, the CEO of Web Summit, said Saturday he was resigning with immediate effect. His decision comes after a slew of major companies and tech leaders pulled out of the conference following his comments on Israel’s response to the Hamas terrorist attacks.

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