Target Names Minsok Pak as Company's Chief Strategy and Innovation Officer
August 23 2017 - 2:45PM
Business Wire
Target Corporation (NYSE:TGT) today announced the appointment of
Minsok Pak as executive vice president, chief strategy and
innovation officer. Pak will be responsible for Target’s enterprise
strategy development and retail innovation with the goal of
enhancing the guest experience and accelerating growth. He will
also oversee business development for the company, including
mergers, acquisitions, partnerships and joint venture initiatives.
He will report to Target Chairman and Chief Executive Officer Brian
Cornell, and serve as a member of Target’s Leadership Team.
“Minsok brings deep business acumen and proven leadership
capabilities to Target. 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,” said Cornell.
“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 has two decades of experience with McKinsey & Company,
where he held various leadership roles and worked with leading
global retail and consumer companies. Additionally, Pak led
McKinsey’s Digital Transformation group and was in charge of the
firm’s internal digitization initiative. Pak also served (on
secondment from McKinsey) as the global Executive Vice President
and Chief Strategy Officer at LG Electronics. At LG, Pak worked
with the CEO and executive team to develop a new corporate
strategy, and also led the company’s M&A and business
development efforts. Separate from his time at McKinsey, he was a
Managing Director at the private equity firm Actium Corporation.
Most recently, Pak was Senior Vice President, LEGO Retail at The
LEGO Group. In this role, Pak was responsible for leading LEGO’s
branded retail channel, including more than 250 stores and
e-commerce sites across 24 markets.
“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,” said Pak. “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
underway.”
Pak will join Target in Minneapolis on September 11, 2017.
About TargetMinneapolis-based Target Corporation (NYSE:
TGT) serves guests at 1,816 stores and at Target.com.
Since 1946, Target has given 5 percent of its profit to
communities, which today equals millions of dollars a week.
For more
information, visit Target.com/Pressroom. For a
behind-the-scenes look at Target,
visit Target.com/abullseyeview or
follow @TargetNews on Twitter.
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Target CommunicationsKatie Boylan, 612-761-7788orTarget Investor
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