Michelle Ebanks Steps Down as CEO of Essence

Michelle Ebanks, Chief Executive Officer of Essence Communications, Inc., will step down from the role of CEO at the end of this month, according to a press release.

Ebanks’ time as CEO will formally come to an end on March 31, 2020. She will pursue other opportunities as well as join the board of Essence Ventures, the parent company of ESSENCE.

“When I joined ESSENCE, I could not have imagined this extraordinary journey and how it would transform me as a person and as a leader,” said Ebanks.

“I will always be grateful for the opportunity, but most importantly for the impact that ESSENCE continues to have on tens of millions of Black women globally. Since I began, my priority has been to position ESSENCE for its next phase, and we’ve done that. The brand has been reestablished as 100% Black-owned and is well-positioned for continued success through what is a remarkable time of transformation and reinvention.”

Ebanks continued, “Richelieu is strongly committed to ESSENCE’s mission of serving Black women deeply – as well as empowering equality, investing in community and expanding ESSENCE into the global media, technology and commerce business that it has always had the potential to be. Over the past couple of years, I’ve often called ESSENCE a 50-year-old start-up, with a richness of legacy and poised to leverage new and unlimited opportunity in ways never done before. As the brand celebrates its 50th Anniversary this year, I am as excited to see what the future holds for the next 50 years.”

Richelieu Dennis created and ran family business brand SheaMoisture until his company into Sundial Brands was acquired in 2017 by Unilever. Last year, he bought Essence magazine — making the publication Black-owned once again.

“There aren’t enough words to express the gratitude, recognition and admiration that we have for everything Michelle has brought to ESSENCE over nearly 20 years – her vision, her leadership, her advocacy, and her determination,” said Dennis. “We value her commitment to uplifting and empowering our community, as well as to building a successful business with an unmatched team of women executives who are leading the way. We are excited to continue to work alongside her on the board of Essence Ventures as we open new opportunities, access, expertise and possibilities for Black women and people of color in the most engaging, authentic and innovative ways possible. This is only the beginning.”