08.24.17
Target Corporation appointed 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.
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.
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.
“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.”
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.
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.
“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.”