Despite stepping down from the Board, Hobson affirmed her continued investment in the brand, having not sold any shares since she first acquired them. Credit: Elena Babanova/Shutterstock.

Starbucks has announced the retirement of Mellody Hobson, who has served as lead independent director on its board of directors for almost two decades.  

Hobson joined the US coffee chain board in 2005, contributing her expertise across various leadership roles, including as chair and vice-chair.  

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She provided guidance through challenging times such as the global financial crisis and the Covid-19 pandemic.  

Current CEO Brian Niccol praised Hobson in an open letter stating: “She has been a respected leader, a mentor to many and a relentless advocate for our company, our coffee and our brand. 

“She’s helped chart our path to incredible growth. And she’s championed efforts to ensure we have a positive impact on the communities we serve.” 

From operating 10,200 stores in 34 markets in 2005, the Seattle-based company now has 40,200 outlets in 88 countries, as reported by World Coffee Portal, and is aiming to expand its reach to 55,000 stores worldwide by 2030. 

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Mellody Hobson said in her letter: “With Brian Niccol firmly at the helm (after a dogged pursuit!), I am confident Starbucks is in excellent hands. For this reason, I now feel comfortable stepping away from the board and do not plan to stand for re-election.” 

Despite stepping down from the board, Hobson affirmed her continued investment in the brand, having not sold any shares since she first acquired them.  

In addition to her role at Starbucks, Hobson has held significant positions at Ariel Investments. She served as co-CEO, president and director since 2019 and was president from 2000 to 2019.