Caroline Wanga is officially stepping away from Essence Ventures. The CEO has helmed the company since 2020. The decision follows a nearly year-long medical leave that began in September 2024.
During her time at Essence, Wanga was often talked about as both a strategist and a cultural advocate. She joined Essence in 2020 after serving as Target’s Chief Culture, Diversity & Inclusion Officer. Wanga believed her presence would help bring organizational change and increased equity in the company. At Essence, she oversaw acquisitions including Afropunk and Beautycon. She also pushed to extend the legacy publication’s digital media footprint.
In a post on X, Essence sent a heartfelt message to their departing leader. They praised her work, crediting her for sweeping growth in the company. Additionally, they acknowledged Wanga’s strong dedication to being a consistent voice for black women.
“With hearts full of appreciation, we share that President & CEO Caroline Wanga will not be returning to her role as she embraces her next chapter — one guided by purpose, conviction, and continued impact. Arriving at Essence Ventures in 2020, she took the helm during a moment of both challenge and transformation. She helped us grow, innovate, and honor the legacy as a trusted voice for Black women while widening our cultural footprint with her fingerprints,” the post read.
Wanga’s own parting words carried her signature blend of candor and reverence for the Black women she served as CEO.
“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,” she said.
With hearts full of appreciation, we share that President & CEO Caroline Wanga will not be returning to her role as she embraces her next chapter — one guided by purpose, conviction, and continued impact.
Arriving at Essence Ventures in 2020, she took the helm during a moment of… pic.twitter.com/I2aeEf8Ane
— ESSENCE (@Essence) August 25, 2025
Wanga also addressed speculation about her exit being linked to the 2025 Essence Festival of Culture discourse. She insists there is no correlation between the two.
“#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.”
The 2025 Essence Festival of Culture in New Orleans, drew heavy scrutiny from fans, attendees and locals. Fans and artists raised concerns over corporate partnerships, delayed performances, and operational efficiency. Furthermore, many concertgoers and onlookers felt the entertainment and programming strayed heavily from the festival’s historic celebration of Black American culture.
Wanga hasn’t revealed where her career will take her next. As Wanga steps away, Essence leadership has not yet announced her successor. The company’s incoming leader will face the challenge restoring faith in the brand as the backlash has been consistent.
