The spokeswoman said, “Web Summit will designate a new CEO as soon as possible.”

Gillian Anderson, an actress, has also chosen not to attend Web Summit. The former X-Files star decided not to attend the event, according to a representative for her drink business, G-Spot, since the two “’brands’ values do not align.”

Currently, the firm employs approximately 300 individuals worldwide in addition to 200 at its Dublin headquarters. It is believed that employees' jobs at the corporation are safe despite many significant companies leaving the organisation.

Before it was relocated to Lisbon in 2015, the Web Summit was first organised and conducted in Dublin.

A European Investment Bank representative stated on Friday that the organisation is now thinking about taking part in the event that takes place next month.

The official added that both Mr. Cosgrave's initial remarks and his apologies had been recorded by the EU development bank, which has been to the Web Summit in prior years.