Essence President And CEO Caroline Wanga Steps Down

Caroline Wanga is formally stepping down from her function as President and CEO of ESSENCE Ventures and addressing any “false assumptions” about her exit.

Within the early hours of Aug. 25, ESSENCE Ventures issued a press launch asserting that Wanga wouldn’t be returning to the corporate, one yr after taking a health-related go away. The media model, devoted to Black ladies, acknowledged that the choice was Wanga’s following her yearlong go away of absence.

“We’re profoundly grateful to Caroline for her management, imaginative and prescient, and unwavering advocacy of Black ladies and tradition,” stated Richelieu Dennis, founder and chairman of Sundial Know-how & Media Group, mum or dad firm of ESSENCE Ventures. “Her experience in tradition, fairness, and organizational change has fueled progress throughout the ESSENCE Ventures portfolio. Caroline has left an indelible mark on ESSENCE and past, and we rejoice the numerous methods she has amplified our mission and influence.”

After the press launch, Wanga issued her personal assertion, which, whereas imprecise, confirmed that her choice to depart was already underway forward of criticism over the dealing with of this yr’s ESSENCE Competition of Tradition.

“ImHighlyPercentSure that some lacking data has led to false assumptions relating to my go away as President/CEO that predated the activation of operational planning for a major annualized occasion,” Wanga captioned a submit which included a screenshot of the press launch.

“My holistic profession experiences amidst the present socioeconomic local weather have NO PROVEN ROLE within the present state of affairs inside the firm and its supporters,” she added in response to her yearlong well being go away.

Wanga, who printed her memoir I’m Extremely P.c Certain in Might, ended her assertion by welcoming dialogue concerning the announcement whereas warning towards any makes an attempt at “defamation” or “disparagement.”

“I encourage debate and dialogue inside the aforementioned guardrails, absent of sensationalized slander with out proof, lies with out authorized protection, and character concoctions that give strategy to conviction and correction,” she wrote. “Some have with full data, been demonstrating unsubstantiated behavioral undermining that displays an lack of ability to defend suggestions with out backfeeding reality.”

“The ‘defamation’ and ‘disparagement’ smoke that accompanies correlating the uncorrelated ain’t what anybody ought to need,” Wanga added.

Wanga spent 4 years helming the ship at ESSENCE Ventures from June 2020 till the beginning of her well being go away in September 2024. The corporate credit her for guiding the legacy model by way of a interval of progress, innovation, and in ways in which uplifted and championed Black ladies.

“The chance to serve Black ladies as CEOs of dwelling, tradition and group will endlessly characterize delight, to do my greatest to serve will endlessly characterize braveness, and fulfilling my subsequent function calling will endlessly characterize conviction,” Wanga stated in an announcement.

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