What’s the future of Target? Retailer names chief innovation officer

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FILE

Target has named a new chief strategy and innovation officer, and he will help steer the direction of the company into the future of retail.

The chain store announced the appointment of Minsok Pak as executive vice president and 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, according to a company statement.

His responsibilities include overseeing business development for the company, including mergers and acquisitions.

» SNEAK PEEK: Target to redesign stores in major ways

“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,” said Brian Cornell, Target’s chairman and CEO.

Pak’s background includes decades of leadership experience and has also worked with leading global retail and consumer companies. He worked for McKinsey & Company, and he has also worked for LEGO Retail at The LEGO Group. He starts on Sept. 11.

» RELATED: Target to discontinue popular clothing brands

“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,” Pak said.

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