Starbucks Announces the Appointment of Mellody Hobson as Non-Government Chair of the Board

SEATTLE–(Business enterprise WIRE)–Starbucks Corporation (NASDAQ: SBUX) right now introduced that Mellody Hobson will provide as

SEATTLE–(Business enterprise WIRE)–Starbucks Corporation (NASDAQ: SBUX) right now introduced that Mellody Hobson will provide as the company’s up coming non-government chair of its board of administrators commencing in March 2021. Hobson, who very first joined the board as an unbiased director in 2005 and was appointed as the board’s impartial vice chair in 2018, will be successful Myron (Mike) E. Ullman, III. Ullman, who has served on the board considering that 2003 and has served as its chair considering the fact that 2018, will retire from the board in March 2021, and Hobson will presume the role of chair in link with the Starbucks Annual Assembly of Shareholders in March 2021.

“It has been extraordinary to be a component of the Starbucks board for nearly 18 a long time as this enduring organization has grown with a frame of mind of prioritizing its people and its consumers,” stated Ullman. “It also has been an honor to serve as the chair of the Starbucks board, and to assistance and oversee the associations of trust built with our stakeholders. With its Mission and Values as its information, I am assured in the foreseeable future of the organization.”

“From the pretty commencing, I established out to make a unique type of company- a person in which all decisions were to be designed as a result of the lens of humanity,” explained Howard Schultz, Starbucks modern day working day founder and chairman emeritus. “As a member of the board for the final 18 a long time and board chair considering that my departure, Mike has been instrumental in guaranteeing Starbucks answers its greater contacting to be a diverse sort of community company. I am grateful to him for all his contributions and his enduring partnership to me and to Starbucks. Mellody has been a dependable advisor to me and the business for additional than 20 several years. She is a fearless chief described by her grace and wisdom. She has extended embraced the reason of Starbucks and, along with the management staff, will go on to reimagine Starbucks long term by means of the foundation of its previous. My coronary heart is total and thankful that Starbucks will have Mellody’s management as chair.”

In addition to serving about 15 years on the Starbucks board of directors, Hobson is the co-CEO of Ariel Investments, LLC, a international value-dependent asset administration company. In this purpose, she is responsible for management, strategic organizing and advancement for all regions of Ariel Investments outside of research and portfolio administration. On top of that, she serves as Chairman of the Board of the company’s publicly traded mutual cash. Prior to currently being named Co-CEO, Hobson used practically two decades as the firm’s President. Further than Starbucks, she has introduced invaluable practical experience to boardrooms across the country. She presently serves as a director of JPMorgan Chase. Hobson is also a past director of Estée Lauder Firms and served as Chairman of the Board of DreamWorks Animation until finally the company’s sale.

“I am thrilled and honored to take on the job of chair,” mentioned Hobson. “Over practically two decades, I have observed the firm carry on to elevate and change its small business – adapting to numerous current market environments and evolving customer tendencies. I glance ahead to doing work with the board and gifted management crew on accelerating our system, supporting our valued companions, and continuing to make important value for all of our stakeholders.” Hobson ongoing, “On behalf of the board, I would also like to thank Mike for his strong management, and all of his a must have contributions.”

Hobson also serves as Chairman of Right after College Matters, a Chicago non-income that supplies place teens with large-quality just after faculty and summer season systems. Additionally, she is vice chair of Environment Business enterprise Chicago co-chair of the Lucas Museum of Narrative Art and a board member of the George Lucas Education and learning Basis and the Los Angeles County Museum of Artwork (LACMA). She is a member of The Rockefeller Foundation Board of Trustees and serves on the executive committee of the Investment decision Enterprise Institute.

Hobson attained her AB from Princeton University’s Faculty of General public and Intercontinental Affairs. In 2019, she was awarded the University’s greatest honor, the Woodrow Wilson Award, introduced every year to a Princeton graduate whose career embodies a commitment to national assistance. She has also been given honorary doctorate levels from Howard College, Johns Hopkins University, St. Mary’s School, and the University of Southern California. In 2015, Time Journal named her a single of the “100 Most Influential People” in the world.

Other members of the Starbucks Board of Administrators consist of: Richard Allison, Roz Brewer, Andy Campion, Mary Dillon, Isabel Ge Mahe, Kevin Johnson, Jørgen Vig Knudstorp, Satya Nadella, Joshua Cooper Ramo, Clara Shih and Javier Teruel.

About Starbucks

Considering the fact that 1971, Starbucks Coffee Corporation has been dedicated to ethically sourcing and roasting substantial-excellent arabica coffee. Now, with more than 32,000 shops all-around the globe, the corporation is the premier roaster and retailer of specialty espresso in the earth. As a result of our unwavering commitment to excellence and our guiding concepts, we convey the unique Starbucks Encounter to lifetime for each individual client via every cup. To share in the experience, you should take a look at us in our outlets or on-line at stories.starbucks.com or www.starbucks.com.