Events group strongly identified with the dominant leadership of its founder Paddy Cosgrave now putting faith in leadership by committee
Wed Summit is an event without a compere as Paddy Cosgrave takes a step back at the group he founded. Photograph: Eric Luke
Having remained defiant for a week in the face of mounting criticism over comments he made about Israel in the context of its conflict with Hamas, Cosgrave finally bowed to pressure from investors and conference participants over the weekend and announced his resignation with immediate effect. Naturally, it will take a while for Web Summit to appoint a replacement. Given the need to restore sponsors’ confidence, getting such an appointment right will be crucial and, anyway, Cosgrave had not got around to succession planning and had no designated deputy.Why was the tourism sector ignored in the budget?
When pressed, Web Summit will only say that, pending the longer-term naming of a new CEO, Web Summit has a strong executive team and an independent board of directors who will be leading staff...Certainly none of the listed executive team or board directors has stuck their head above the parapet. Which is an issue when you are trying to restore confidence in your core event and the wider business, not least when such a strong-willed founder continues to control 81 per cent of the group’s equity.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Paddy Cosgrave is synonymous with it' - What next for the Web Summit?CEO Paddy Cosgrave resigned following backlash of his criticism of Israel and western governments
Read more »
Web Summit team says Lisbon conference will take place after Cosgrave resignationEvent management group scrambles to limit damage as departing chief executive concedes comments on Israel-Hamas conflict had become ‘distraction’
Read more »
Web Summit turmoil; a very costly sandwich; and why mothers don’t come back to workThe best news, analysis and comment from The Irish Times business desk
Read more »
Web Summit says it is dealing with ‘very small number’ of refund requestsTicket prices start at €1,095 for general attendees
Read more »