Chicago businesswoman Mellody Hobson will step down from her position as lead independent director of Starbucks’ board of directors, the coffee giant said in a statement on its website. Hobson serves as co-CEO and President of Ariel Investments in Chicago.

Mellody Hobson said she won’t seek reelection to the board, capping a two-decade tenure that included recruiting a new chief executive officer last year to turn the company around.In a letter dated Jan.

The lead independent director and former chair of the board at Starbucks, Mellody Hobson, isn't standing for reelection at the coffee chain's upcoming annual shareholder meeting. Seattle-based Starbuc

The longtime board member last year ceded the chairman title to Brian Niccol and was instrumental in recruiting him to the coffee shop

Hobson previously served as the chairwoman of Starbucks from March 2021 to September 2024, making her the only African American woman to chair a Fortune 500 company at the time of her appointment

Coffee giant Starbucks said on Thursday that Mellody Hobson, the lead independent director of its board, will depart after a tenure of nearly two decades with the company.

Starbucks Corp (NASDAQ:SBUX), a prominent player in the Hotels, Restaurants & Leisure industry with a market capitalization of $107.19 billion, announced today that Mellody Hobson, a member of the company's board of directors,