Starbucks Corporation

SBUX

US8552441094

Restaurants & Bars

Market Closed - Nasdaq Other stock markets 04:00:00 2026-05-15 pm EDT			5-day change	1st Jan Change
106.82 ^USD	+0.98%		+1.80%	+26.84%

May. 15	Starbucks to Cut 300 US Support Jobs, Consolidate Regional Offices	MT
May. 15	Starbucks Assessing Locations, Plans Job Cuts Amid Ongoing Restructuring	MT

Starbucks' Former Chair Mellody Hobson to Step Down as Lead Independent Board Director

Published on 01/16/2025 at 05:04 pm EST - Modified on 01/16/2025 at 05:05 pm EST

Dow Jones

STARBUCKS CORPORATION

+0.98%

S&P GSCI COFFEE INDEX

-3.19%

By Sabela Ojea

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

Seattle-based Starbucks on Thursday said that earlier this week Hobson informed the board of her decision after a four-year tenure in the lead independent director role, beginning March 2021.

In a letter to the board, Hobson said that she feels confident Starbucks is in excellent hands under the leadership of Brian Niccol as CEO.

"For this reason, I now feel comfortable stepping away from the board and do not plan to stand for re-election," Hobson said. "I believe it is important for Brian to have a lead director who can sit alongside him for years to come-my twenty years is already a long time."

Hobson served as chair of the board from March 2021 to Sept. 2024, coinciding with the appointment of Niccol to the top job.

In August, Starbucks disclosed that it had tapped former Chipotle Mexican Grill CEO Niccol as its next leader as it works to turn around its business and contend with activist investors.

Starbucks is expected to post its results for the fiscal first quarter Jan. 28.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

01-16-25 1704ET

Stocks mentioned in the article

	Add to a list 0 selected To use this feature you must be a member Log in Sign up	Approximate price	Change	5d. change	Capi.
	STARBUCKS CORPORATION	106.82USD	+0.98%	+1.80%	122B
	S&P GSCI COFFEE INDEX	205.54PTS	-3.19%	-2.87%	-

Latest news about Starbucks Corporation

May. 15	Starbucks to Cut 300 US Support Jobs, Consolidate Regional Offices	MT
May. 15	Starbucks Assessing Locations, Plans Job Cuts Amid Ongoing Restructuring	MT
May. 15	Starbucks Assessing Locations, Plans Job Cuts Amid Ongoing Restructuring	MT
May. 15	Starbucks Reportedly Slashing 300 Jobs Amid Regional Office Closures	MT
May. 15	Starbucks cuts 300 US corporate jobs and closes some regional offices	RE
May. 14	UN human-rights experts urge Starbucks and US to address union-busting claims	RE
May. 14	Starbucks Shares Rise After TD Cowen Upgrade	MT
May. 14	Un special rapporteur Gina Romero urges Starbucks to cease 'anti-union campaign', reach fair contract with workers without delay - Bluesky Post	RE
May. 14	TD Cowen Upgrades Starbucks to Buy From Hold, Adjusts Price Target to $120 From $106	MT
May. 12	Vornado Realty Trust JV Completes Refinancing of Manhattan Property	MT
May. 11	Starbucks cuts 61 technology jobs in Seattle	RE
May. 11	Starbucks to lay off 61 workers in Seattle June 2026, WARN notice shows	RE
May. 08	India's Tata Consumer flags double-digit fiscal growth amid Middle East cost pressures	RE
May. 07	Brookfield teams up with Alshaya for mixed use development in Dubai	RE
May. 04	Starbucks Corporation commences cash tender offers for eight series of notes	RE

Brian Niccol

Presently, Brian R. Niccol occupies the position of Chairman & Chief Executive Officer for Chipotle Mexican Grill, Inc. Mr. Niccol is also on the board of Harley-Davidson, Inc. Mr. Niccol previously was Chief Marketing Officer of Yum! Brands, Inc. Chief Executive Officer for Taco Bell Corp. and Chief Marketing Officer & General Manager at Pizza Hut LLC (both are subsidiaries of Yum! Brands, Inc.) and Chairman of The Taco Bell Foundation, Inc. He received an undergraduate degree from Miami University and an MBA from The University of Chicago Booth School of Business.

View full profile

Chart Starbucks Corporation

Duration

Period

SBUX: Dynamic Chart

Company Profile

Starbucks Corporation specializes in owning and operating coffee shops. The group also develops a coffee roasting activity. Net sales break down by source of revenue as follows: - sales within company-operated coffee shops (82.7%): as of September 28, 2025, owned a network of 21,514 coffee shops under the Starbucks Coffee®, Teavana®, Ethos®, Starbucks Reserve® and Princi® brands; - sales within licensed stores (1.7%): 19,476 licensed stores located primarily in the United States (6,813), Korea (2,077), Latin America (1,813) and the United Kingdom (900); - other (5.6%): sales of coffee, beverages and food products for companies, hotels, hospitals, airlines, etc. Net sales break down by family of products between beverages (60.6%), food (19%) and other (20.4%). Net sales are distributed geographically as follows: the United States (72.9%), China (8.5%) and other (18.6%).

Employees

381,000

Sector

Restaurants & Bars

More about the company