Starbucks Says Mellody Hobson Will Take Over Board Leadership Role
December 09 2020 - 8:41AM
Dow Jones News
By Micah Maidenberg
Starbucks Corp. said investor Mellody Hobson has been appointed
non-executive chairwoman of the company's board.
The Seattle-based coffee chain said Wednesday that Ms. Hobson,
co-chief executive at Ariel Investments LLC, would succeed Myron
Ullman III in the role. Mr. Ullman, a board member at Starbucks
since 2003 and its chairman since 2018, would retire from the board
next March, according to the company. At that time, Ms Hobson would
take on her new role.
Ms. Hobson is among the most prominent Black investors in the
U.S. She has been an independent director at Starbucks since 2005
and was appointed the board's independent vice chair in 2018,
Starbucks said.
She also currently serves as a director at JPMorgan Chase &
Co. and formerly was a member of the Estée Lauder Cos. board.
"I look forward to working with the board and talented
leadership team on accelerating our strategy, supporting our valued
partners, and continuing to create significant value for all of our
stakeholders," Ms. Hobson said.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
December 09, 2020 09:26 ET (14:26 GMT)
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