David Kelly and Daire Hickey say they are concerned over risk to 300 jobs
Web Summit attendees in Lisbon. The cofounders of Web Summit have written to the company’s board requesting that former chief executive Paddy Cosgrave sell his stake in the company or face putting more than 300 jobs at risk. Photograph: Armando Franca/PA
David Kelly and Daire Hickey, who own 7 per cent and 12 per cent respectively of the company behind the Lisbon conference, are understood to have written to the board to express concerns that Mr Cosgrave’s continued ownership of the company was putting its future in danger. they have called on the board to explore all possible avenues, including a sale if necessary.
The comments caused Israeli tech companies and investors to withdraw from the event, along with a number of high profile speakers such as Amy Poehler and Gillian Anderson.
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