Mellody Hobson Named Starbucks’ New Vice Chair
Starbucks Executive Chairman Howard Schultz is stepping down from his role effective June 26th, and board member Mellody Hobson will be named Vice Chair of the Board. Hobson currently serves as President and Director of Ariel Investments -- the largest African American-owned money manager in the United States based in Chicago. The 49-year-old Princeton University grad -- who has honorary doctorate degrees from Howard University, St. Mary’s College, University of Southern California, and Johns Hopkins University -- is also a Director on the Boards of The Estée Lauder Companies Inc. and JPMorgan Chase, which she joined in March. She was the first African American woman to head The Economic Club of Chicago. She is also a member of the American Academy of Arts and Sciences, The Rockefeller Foundation Board of Trustees, and serves on the Executive Committee of the Investment Company Institute’s Board of Governors. Hobson recently participated in Starbucks’ anti-bias training day. And the Force is with her -- she’s married to famed Star Wars creator George Lucas. Myron E. Ullman, the former Chairman of J. C. Penney, will become Starbucks’ new Chairman. And there are rumors that Schultz may be considering a presidential run. More here.