Mellody Hobson To Step Down As Starbucks Lead Independent Director

Starbucks announced that Mellody Hobson, its lead Independent Director, will step down after nearly two decades of service, with her resignation effective at the upcoming annual shareholders’ meeting. Starbucks will report its first-quarter results on January 28, 2025.

Hobson served as Chairwoman from March 2021 to September 2024, becoming the first African-American woman to chair a Fortune 500 company during her tenure. She informed Starbucks of her decision not to seek re-election ahead of the annual shareholders’ meeting. Hobson emphasised her commitment as a long-term investor in the company. Her exit coincides with shifts in corporate diversity policies and operational changes under CEO Brian Niccol. Hobson, also co-CEO of Ariel Investments, will continue serving until her term ends.