Starbucks appoints Melody Hobson as chairman of the board of directors

Starbucks, a coffee chain, appointed Vice Chairman Melody Hobson as the head of the board of directors on Wednesday, making her the only African-American female chairman of Fortune 500 companies.

She succeeded Myron Ullman, who retired in March, as the non-executive chairman.

Hobson, co-CEO of asset management firm Ariel Investments LLC, was appointed Vice President in 2018 and served on the Starbucks board for over 15 years.

She also served as a director of JPMorgan Chase, Estee Lauder Cos, and chairman of the board of directors before DreamWorks Animation was sold.