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• Starbucks has announced that when Howard Schultz steps down from the company’s chairmanship at the end of the month, and is succeeded by former JC Penney CEO Myron "Mike" Ullman in that role, the company’s vice chair role will be filled by Mellody Hobson.

Black Enterprise describes Hobson as president of the largest Black-owned money management firm in the U.S., Ariel Investments, LLC., and she currently serves as a director on Starbucks’ board. In the past, Hobson also has served on the boards of Estée Lauder, DreamWorks Animation and Groupon.
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