Mellody Hobson

As co-CEO of Ariel Investments, Mellody Hobson oversees management, strategic planning, and growth for the company outside of research and portfolio management. She has worked at the firm—the first Black-owned mutual fund company in the U.S.—for over three decades, and has been a mainstay on the Most Powerful Women list since she became Ariel’s co-head in 2019. Hobson retired from Starbucks’ board of directors after a nearly 20-year run in March. She had previously served as chair of the board, the first Black woman to do so for a Fortune 500 company; in that role, she played a major role in hiring Chipotle CEO Brian Niccol to try to reverse Starbucks's long slump. Ariel Investments reported $13.8 billion in assets under management at the end of 2024.