Target adds new executive to deal with strategy and innovation
Aug. 25, 2017
by Monica Watrous
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Minsok Pak has been named executive vice president, chief strategy and innovation officer at Target.
MINNEAPOLIS — Minsok Pak has been named executive vice president, chief strategy and innovation officer at Target Corp. In his new role, Pak will oversee business development, including mergers and acquisitions, partnerships and joint venture initiatives. He will report to Brian Cornell, chairman and CEO of Target.
Most recently, Pak was senior vice-president, LEGO Retail at The LEGO Group, with responsibility for leading the company’s branded retail channel, including more than 250 stores and e-commerce sites across 24 markets. Previously, he held various leadership roles at McKinsey & Co., where he worked with global retail and consumer companies and led digital transformation efforts. He also served as the global executive vice president and chief strategy officer at LG Electronics.
|Brian Cornell, chairman and CEO of Target
“Minsok brings deep business acumen and proven leadership capabilities to Target,” Cornell said. “Throughout his career, he has counseled numerous companies and led through significant times of change. He brings strategic vision, an innovative spirit and an ability to address complex business challenges by capturing near-term opportunities and charting a course for the future.
“As we build an even better Target for tomorrow, we must plan purposefully to drive growth and continue instilling innovation in every part of our business. I am confident Minsok is the right leader to fill this critical role.”
Pak added, “Target has a legacy of innovating within the retail space, including their unique design partnerships, compelling brand portfolio, and investments in the shopper experience. I’ve long admired the company’s enviable brand positioning and loyal following. I aim to build on that foundation, developing strategies for the future that drive innovation across the entire company and focus on further enhancing the guest experience, fueling growth, and ultimately positioning Target to succeed in a dynamic retail environment. I look forward to working with Brian and the Target team to accelerate the work already under way."