(Reuters) - JPMorgan & Chase Co has appointed Mellody Hobson, the president of Chicago-based investment firm Ariel Investments LLC, to its board of directors, the Wall Street bank said here on Tuesday.
Crandall Bowles, 70, will retire from the board and will not stand for re-election. Bowles, chairman emeritus of the Springs Company, has been a JPMorgan director since 2006.
Hobson, 48, also serves on the boards of Starbucks Corp and Estee Lauder Companies Inc. She speaks frequently about financial literacy and is a regular commentator for media outlets.
Reporting by Parikshit Mishra in Bengaluru and David Henry in New York; Editing by Meredith Mazzilli