Business Insider CEO Barbara Peng will step down from her role next month, she told staff on Wednesday, following a tenure consumed by declining subscriptions and multiple rounds of layoffs.
Status first reported her exit.
“I will be leaving Business Insider,” Peng told staffers in her note. “This was not an easy decision for me. I love Business Insider. I love being here with you every day, figuring things out, building, and forging the future together. But more broadly, we’re at a moment where there’s massive change driven by technology, which also means massive opportunity. And for a techie builder like me, that’s an irresistible pull.”
Peng said she would stay on through June 30, while parent company Axel Springer senior advisor Christian Baesler will take over as interim chief of the outlet.
“Please continue to be bold and brave,” she told staff. “I know it can feel safer or more comfortable to resist change and hope things stay the same. But they won’t stay the same — and they shouldn’t. The future of Business Insider, and the future of journalism itself, depends on embracing what’s next. And if any team can do that, it’s this one.”
Peng’s exit came as the outlet has faced dwindling subscriber rates and multiple rounds since she took over as CEO in 2023. Last week, Business Insider laid off less than 5% of its staff, its fourth consecutive year of staff cuts. In March, Status reported the company had lost 27% of its paid subscriber base between the end of 2022 and the end of 2025. The company also lost its chief revenue officer and its global head of sales in January.
“It has been an incredible privilege to work alongside you, and I’m deeply grateful for the opportunity to lead this company,” Peng wrote. “Media and journalism have faced enormous challenges during my time as CEO, and I’ve only ever known operating in this environment. But I wouldn’t trade it for anything.”
