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Starbucks director Hobson to leave board after two-decade tenure

  • Mellody Hobson, the lead independent director of Starbucks, will leave the board after nearly two decades, as announced by the company.
  • Hobson was the chairwoman of Starbucks from March 2021 to September 2024, making her the only African American woman to chair a Fortune 500 company.
  • Starbucks is facing challenges, including a decline in revenues and a drop in share price, leading to a change in its executive compensation plan.
  • Hobson stated, 'In two decades, I have never sold a single Starbucks share and plan to remain a steadfast investor,' in her letter dated January 14.
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