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12/9/2020, 5:29 PM (Source: TeleTrader)
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Starbucks picks Mellody Hobson as chair of board

Starbucks Corporation announced on Wednesday that Mellody Hobson will become the company's next non-executive chair of its board of directors.

The board's current Chair Myron E. Ullman III will retire in March 2021 and be replaced by Hobson, who began her career at Starbucks in 2005 as an independent director. She is also the co-CEO of Ariel Investments LLC and the director of JPMorgan Chase.

Hobson "has long embraced the purpose of Starbucks and, along with the leadership team, will continue to reimagine Starbucks future through the foundation of its past," said Howard Schultz, Starbucks's modern-day founder and chairman emeritus.

Breaking the News / MS