Caroline Wanga steps down as president and CEO of ESSENCE Ventures
The author will not return to ESSENCE Ventures following her health leave.
Caroline Wanga is stepping down as president and CEO of ESSENCE Ventures, the media company announced Monday.
Wanga, who had been on health leave since September 2024, joined ESSENCE Ventures in June 2020. She has “guided the company through a period of growth, innovation, and renewed cultural influence,” the company said in a statement.
“We are profoundly grateful to Caroline for her leadership, vision, and unwavering advocacy of Black women and culture,” said Richelieu Dennis, founder of Sundial Technology & Media Group, the parent company of ESSENCE Ventures.
“Her expertise in culture, equity, and organizational change has fueled progress across the ESSENCE Ventures portfolio. Caroline has left an indelible mark on ESSENCE and beyond, and we celebrate the many ways she has amplified our mission and impact,” he continued.
"The opportunity to serve Black women as CEOs of home, culture and community will forever represent pride, to do my best to serve will forever represent courage, and fulfilling my next purpose calling will forever represent conviction," said Wanga.
Related: Demetria Lucas’s ESSENCE Fest podcast: Sorting thru the Rumors, Allegations and Straight Up Lies! (Oh, and taking accountability too.)
However, in a later social media post, Wanga seemingly calls the press release ‘word salad,’ and cryptically shared an African proverb: “Until the lion learned to write, all stories favored the hunter.”
She also reposted her comments about the 2025 Essence Festival of Culture, which faced intense scrutiny online over logistical errors and debate over cultural representation. Wagna, who was born in Kenya and moved to the U.S. as a child, explained that she was on leave during the planning of this year’s festival.
“ImHighlyPercentSure that some missing knowledge has led to false assumptions regarding my leave as President/CEO that predated the activation of operational planning for a significant annualized event,” Wagna said in July following the celebration.
Wagna’s memoir, “I'm Highly Percent Sure,” was published in May. Prior to her role at ESSENCE Ventures, she served as chief Culture, Diversity and Inclusion officer at Target.
ESSENCE Ventures is best known as the parent company for ESSENCE, AFROPUNK, Beautycon and Essence Studios.
Wishing her and Essence the best in these next chapters. It's too much going on for a house divided 🖤