Mellody Hobson, who has been instrumental in shaping Starbucks’ global expansion and resilience for nearly 20 years, is stepping down from the company’s Board of Directors. Having joined in 2005, her tenure spanned pivotal moments in the company’s history, including navigating financial challenges, the pandemic, and a dramatic scaling of operations.
During Hobson’s time on the board, Starbucks grew from operating 10,200 stores across 34 markets to over 40,200 outlets in 88 countries, with ambitious plans to reach 55,000 locations by 2030. Her strategic insights and leadership were crucial in steering the company through critical periods of transformation and adversity.
Reflecting on her decision to step away, Hobson expressed confidence in the company’s current leadership and the future direction it is taking. She emphasized the importance of providing continuity for the company by allowing a new Lead Director to guide Starbucks through its next phase of growth. Despite her departure, Hobson remains deeply connected to the company as an investor, noting her commitment by retaining all her shares since she first joined the board.
In addition to her contributions to Starbucks, Hobson has made a significant impact in the financial world. She serves as Co-CEO and President of Ariel Investments, an investment management firm based in Chicago, where she has held leadership roles for over two decades.
Hobson’s departure marks the end of an era for Starbucks, but her legacy of steady leadership and vision continues to resonate as the company moves forward with ambitious goals in the global coffee industry.