Mellody Hobson to become Starbucks Vice Chair
Mellody Hobson, president of Chicago-based investment firm Ariel Investments, will be moving into a role as Starbucks’s vice chair following Executive Chairman Howard Schultz‘s departure on June 26.
A Chicago native, Hobson worked her way up after joining Ariel as a college intern in the 1990s, going on to become the company’s vice president of marketing, then a senior vice president, and eventually president at the firm.
Throughout her career, Hobson has made financial literacy and community outreach a priority. Currently, she serves as chair on the board of directors of The Economic Club of Chicago, as well as chair of After School Matters, a Chicago nonprofit that provides teens with out-of-school time programs.
Myron E. Ullman, the former CEO of J.C. Penney, will take over as Starbucks’ chair.