Starbucks Appoints Mellody Hobson As Non-executive Chair Of Board, Succeeding Myron Ullman

(RTTNews) - Starbucks Corp. (SBUX) said Wednesday it has appointed Mellody Hobson as the company's next non-executive chair of its board of directors starting in March 2021. Hobson will succeed Myron Ullman, III.

Hobson first joined the Starbucks board as an independent director in 2005 and was appointed as the board's independent vice chair in 2018.

Ullman, who has served on the board since 2003 and has served as its chair since 2018, will retire from the board in March 2021.

Starbucks said that Hobson will assume the role of chair in connection with the company's annual meeting of shareholders in March 2021.

In addition to serving over 15 years on the Starbucks board of directors, Hobson is the co-CEO of Ariel Investments, LLC, a global value-based asset management firm. She also serves as Chairman of the Board of the company's publicly traded mutual funds.