Caroline Wanga Steps Down from her role as President and CEO at Essence

Essence ventures has announced that Caroline Wanga will step down from her role as President and CEO after a year-long health leave. The news was confirmed on August 25, 2025.

Wanga, who joined Essence in 2020 and became CEO in 2022, is credited with modernizing the company’s operations and expanding its cultural and digital presence. Under her leadership, Essence Ventures strengthened its portfolio, which includes Afropunk, BeautyCon, and Essence Studios, while maintaining its core focus on celebrating and amplifying Black culture.

In May 2025, Wanga published her memoir I’m Highly Percent Sure, reflecting on leadership, authenticity, and purpose. The book coincided with public debate following the 2025 Essence Festival of Culture, where online criticism prompted Wanga to clarify that her leave and decision to exit were unrelated to the festival’s planning or execution.

Although she held the top leadership role, Wanga was not an owner of Essence. The company remains under the ownership of Sundial Media Group, founded by Richelieu Dennis.

Her departure marks the end of a significant era for Essence, with her contributions widely recognized for reshaping the brand and reinforcing its cultural influence