The lead independent director and former chair of the board at Starbucks, Mellody Hobson, isn't standing for reelection at the coffee chain's upcoming annual shareholder meeting. Seattle-based Starbuc

The longtime board member last year ceded the chairman title to Brian Niccol and was instrumental in recruiting him to the coffee shop

(Reuters) -Coffee giant Starbucks said on Thursday that Mellody Hobson, the lead independent director of its board, will depart after a tenure of nearly two decades with the company.

Mellody Hobson is exiting her board role at Starbucks. Hobson is well regarded for her efforts at Ariel Investments, a global value-based asset management firm, where she is responsible for management,

Starbucks Corp (NASDAQ:SBUX), a prominent player in the Hotels, Restaurants & Leisure industry with a market capitalization of $107.19 billion, announced today that Mellody Hobson, a member of the company's board of directors,