Mellody Hobson has been named the new vice chair of Starbucks and will step into the role when Howard Schultz steps down as the executive chairman of the coffee giant, at the end of the month. With this move, Hobson has become one of the very few African Americans in history to occupy such a role at a FORTUNE 500 company.
Hobson, 49, joined Ariel Investments, LLC, the largest African American-owned money manager in the United States as an intern in 1999. She rose through the ranks, becoming the president of the investment firm with $13 billion asset under management.
Hobson has also been a director at a number of public companies and institutions: DreamWorks Animation, GroupOn, The Estée Lauder Companies Inc., and Starbucks Corporation. She has also served on the boards of various civic organizations including the Field Museum, the Chicago Public Education Fund, and the Sundance Institute. She was the first African American woman to head The Economic Club of Chicago. And she was elected to JP Morgan Chase’s board of directors in March.
In this video, Hobson shares her Top 10 Rules For Success.