Starbucks Names New Head of Board

Coffee chain Starbucks named on Wednesday afternoon Vice Chair Mellody Hobson as the new head of the company’s board, making her the only African American woman to chair a Fortune 500 firm in the United States. Hobson takes over as non-executive chair from Myron Ullman, who will retire in March 2021.

Coffee chain Starbucks named on Wednesday afternoon Vice Chair Mellody Hobson as the new head of the company’s board, making her the only African American woman to chair a Fortune 500 firm in the United States. Hobson takes over as non-executive chair from Myron Ullman, who will retire in March 2021.

Hobson, who is currently the co-chief executive officer of asset manager Ariel Investments, was named vice chair two years ago and has served on the company’s board for almost two decades. 

Hobson also serves as a director at JPMorgan Chase, chaired DreamWorks Animation’s board and was a director at Estee Lauder Cos.

Her appointment comes at a moment when Corporate America is pushing for improving diversity in its senior leadership ranks. 

Earlier this year, Citigroup appointed Jane Fraser as the company’s chief executive office, making her the first women in the history to lead a major Wall Street bank.


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