Web Summit Chief Executive and founder Paddy Cosgrave on Saturday resigned after comments he made on the Israeli-Hamas conflict prompted some technology companies and investors to withdraw plans to attend its conference in Portugal next month.

"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.

(Reporting by Maria Ponnezhath in Bengaluru)