Caroline Wanga is stepping away from her role as president and CEO of ESSENCE Ventures.

Wanga, who took the helm of the company in 2020, had been on a health-related leave since September 2024. ESSENCE, the widely known Black media company, announced her departure in a news release nearly a year later, on Monday, Aug. 25, 2025.

“We are profoundly grateful to Caroline for her leadership, vision, and unwavering advocacy of Black women and culture,” said Richelieu Dennis, founder and chairman of ESSENCE’s parent company, Sundial Technology & Media Group.

“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 added.

According to the news release, Wanga helped drive growth and innovation for the company, further establishing ESSENSE’s cultural influence and credibility as a trusted voice. She worked consistently to uplift and champion Black women, a reflection of her role as change-maker and cultural leader.

As a self-proclaimed cultural architect, Wanga’s defines success as helping others reach their goals in their own way, setting clear destinations while collaborating on the paths to get there, per her LinkedIn. She shares that she does this by modeling the behaviors she asks of others, and inspires action through storytelling, bold thinking and a spirit of empowerment.

“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,” Wanga said, per ESSENCE’s news release.