Mellody Hobson to Step Down from Starbucks Board

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Hobson, who has served on the board for nearly 20 years, expressed confidence in the company's future under CEO Brian Niccol. She cited the need for a lead director to work closely with Niccol for years to come as the reason for her decision. Hobson will continue to serve until the end of her current term and has no plans to sell her Starbucks shares.

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About Starbucks Corporation

Starbucks Corporation is a renowned global leader in the coffeehouse industry, offering a wide array of beverages including coffee, tea, and other specialty drinks, alongside complementary food items. The company operates retail locations worldwide, providing customers with a unique coffeehouse experience characterized by quality products and a welcoming atmosphere. Beyond its physical stores, Starbucks significantly impacts the coffee production industry, promoting sustainable sourcing and ethical supply chain practices. Its operations extend into grocery and convenience stores through products like ready-to-drink beverages and consumer-packaged coffee. Founded in 1971 and headquartered in Seattle, Washington, Starbucks Corporation is pivotal in shaping consumer beverage preferences and enhancing global coffee culture, influencing both retail and wholesale sectors.