“Unfortunately, my personal comments have become a distraction from the event, and our team, our sponsors, our startups and the people who attend,” Cosgrave said in a statement.

“I sincerely apologise again for any hurt I have caused.”

Web Summit, which organises one of the world’s largest tech conferences every year, will appoint a new CEO as soon as possible, a spokesperson for the company said in an emailed statement, adding that Web Summit 2023 in Lisbon will go ahead as planned.

According to a Bloomberg report on Friday, Google (GOOGL.O) and Meta Platforms Inc (META.O), as well as several other tech companies including Intel Corp (INTC.O) and Siemens AG (SIEGn.DE) have decided not to participate in the event.

The summit is scheduled to take place from Nov. 13-16.

Cosgrave drew criticism after a post on social media platform X on Oct. 13, referring to Israel’s response in Gaza following the Hamas attacks on Oct. 7.

“War crimes are war crimes even when committed by allies, and should be called out for what they are,” the post read. Days later on Tuesday, he apologised for his comments.

Cosgrave remains the majority shareholder in Web Summit.