As we head into the new year, it’s important to remember the phrase “nothing ventured, nothing gained.” Minsok Pak has recently adopted this mindset, jumping from the retail sector to try his hand at foodservice. Announced last week, Pak will leave his position as Executive Vice President and Chief Strategy Officer at Target to take on the role of Executive Vice President and Chief Strategy and Transformation Officer at Mondelēz International.
“This is an exciting time for me to join Mondelēz International as the company continues to execute on its consumer-focused strategy and grow its strong portfolio of brands around the world,” said Pak. “I look forward to working with the team to identify new opportunities for growth and innovation.”
According to a press release, Pak will now be responsible for enterprise strategy as well as strategic growth opportunities, including M&A, new business, and digital transformation initiatives. He will also lead SnackFutures, the company’s innovation and venture hub. Pak will report directly to Dirk Van de Put, Chairman and Chief Executive Officer, and will be a member of the Mondelēz International Leadership Team as of January 13, 2020.
“Minsok brings extensive international experience developing and implementing enterprise strategies and growth initiatives in the consumer and retail sectors,” said Van de Put. “His track record of accelerating growth and driving transformation, together with his detailed understanding of the global consumer landscape, will be an asset to Mondelēz International as we continue to lead the future of snacking. We are pleased to welcome him and look forward to his contributions to our future growth.”
In his role at Target, Pak had oversight of the company’s enterprise strategy and innovation efforts and helped lead the development and implementation of its growth strategy. Prior to Target, he served as Senior Vice President, LEGO Retail/Shopper Marketing, and Channel Development at The LEGO Group, based in London. There, he led branded omnichannel retail business including e-commerce in more than 20 markets and shopper marketing and channel development efforts. Pak began his career at McKinsey & Company, where he spent nearly two decades in various roles, including Head of the Asia-Pacific Sales and Marketing and other leadership positions in North American Supply Chain and Asia Consumer & Retail practices.
Pak is also a member of the Minnesota Orchestral Association Board and the Board of Trustees of Oberlin College. He received his B.A. degree in Economics from Oberlin College and his MBA from Stanford University.
Congratulations to Minsok Pak on this exciting new role!