In 2023, Business Insider faced significant challenges due to Facebook’s algorithm change that favored news content over advertising. CEO Barbara Peng responded by announcing the outlet would revert back to its original name and focus on its core strengths in tech and markets coverage.
However, reports surfaced suggesting that Carlson, one of the outlet’s first employees, would step down from his role later in the year. Despite legal threats from Ackman regarding stories about his wife’s academic work, Axel Springer initially stood by Carlson. However, amid online backlash from Ackman and his supporters, the company’s CEO considered firing him.
An Axel Springer spokesperson praised Carlson for his leadership in transforming Business Insider into an award-winning newsroom that reaches millions of readers and viewers globally. However, they emphasized that the renewed focus on business news would heavily influence the selection of Carlson’s successor. The spokesperson expressed pride in the outlet’s renewed commitment to coverage of business, tech, and innovation and voiced support for CEO Barbara Peng in leading the search for the next Editor in Chief. It should be noted that it was CEO Barbara Peng who changed the outlet’s name back to Business Insider in 2023, not 2022 as previously stated.