Starbucks Appoints Mellody Hobson as Non-Executive Chair in 2021: A New Era of Leadership
Discover how Mellody Hobson's appointment as Starbucks' non-executive chair in 2021 marks a transformative step towards innovative leadership and board diversity.
Mellody Hobson, co-CEO of Ariel Investments, has been named Starbucks' non-executive chair starting March 2021, ushering in a new chapter for the coffee giant.
Having been a vital member of Starbucks' board since 2005, Hobson steps into the role following Myron Ullman’s tenure as chair since 2018. Her leadership journey includes serving as the board’s independent vice chair since 2018, reflecting her deep commitment to the company’s vision.
Starbucks founder Howard Schultz praised Hobson, stating, “She is a fearless leader defined by her grace and wisdom, whose long-standing dedication to Starbucks’ mission will help shape its future while honoring its rich heritage.”
Beyond Starbucks, Hobson holds a directorship at JPMorgan Chase and has contributed her expertise to Estée Lauder Companies and DreamWorks Animation. She was also a contender for the U.S. Treasury Secretary role prior to Janet Yellen’s appointment.
Since Hobson joined the board, Starbucks shares have soared by 550%, highlighting her influential role during a period of significant growth. Her appointment aligns with a growing emphasis on diversity within corporate boards, exemplified by Nasdaq’s recent proposal to mandate diverse representation among listed companies.
Expressing enthusiasm for her new role, Hobson remarked, “I am honored to lead as chair and excited to collaborate with the board and leadership team to accelerate our strategy, support our partners, and deliver exceptional value to all stakeholders.”
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