Starbucks Announces Exit of Lead Independent Director Mellody Hobson After 20 Years
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Starbucks’ Lead Independent Director, Melloda Hobson, is stepping down from her post after nearly 20 years with the coffee giant.

On Thursday, the company announced Hobson’s exit just days after she informed Starbucks of her decision not to seek re-election at the upcoming annual shareholders’ meeting, CNBC reports. Her departure comes months after she spearheaded efforts to appoint a new chief executive during a challenging period for the world’s largest coffee chain.

It was last summer when Hobson orchestrated the removal of CEO Laxman Narasimhan, appointing Brian Niccol, formerly of Chipotle Mexican Grill, as his replacement. Since joining Starbucks, Niccol has been tasked with revitalizing the company and driving growth after a swift decline in sales in key markets, including the U.S. and China.

“With Brian Niccol firmly at the helm (after a dogged pursuit!), I am confident Starbucks is in excellent hands,” Hobson wrote on Jan 14. letter. “For this reason, I now feel comfortable stepping away from the board and do not plan to stand for re-election.”

Hobson’s exit marks the end of an era where she previously served as chairwoman of Starbucks from March 2021 to September 2024, becoming the first African American woman to chair a Fortune 500 company at the time of her appointment. During her two-decade tenure at Starbucks, the company earned recognition for its remarkable growth and commitment to social and environmental responsibility.

“In two decades, I have never sold a single Starbucks share and plan to remain a steadfast investor,” Hobson said of her reported $60 million worth of company shares.

The Ariel Investments co-CEO also serves on the board of JPMorgan Chase, the largest US bank by assets. Hobson’s departure comes amid Corporate America’s sweeping rollback of diversity, equity, and inclusion (DEI) initiatives aimed at increasing racial and ethnic representation in the workplace.

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