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.

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

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.

Starbucks Corp. director Mellody Hobson said she won’t seek reelection to the board, capping a two-decade tenure that included recruiting a new chief executive officer last year to turn the company around.

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,