Chicago business owner Mellody Hobson will step down from her position as lead independent director of Starbucks’ board of directors, the coffee giant said in a statement on its website. Hobson serves as co-CEO and president of Ariel Investments in Chicago.

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

Mellody Hobson’s resignation as lead independent director of the Starbucks Corporation Board marks the end of an era for the company

Mellody Hobson, Starbucks’ lead independent director and former chair of the board, announced her retirement after serving the company for the past two decades.

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

Her decision wasn’t related to “any disagreement with the company on any matter relating to its operations, policies, or practices,” according to a regulatory filing.

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,