Ex-Nike Korea chief named head of Philips Korea

Peter Kwak

By Yoon Sung-won

Philips Korea, the Korean subsidiary of the global electronics maker, has appointed former Nike Korea head Peter Kwak as the new general manager of its personal health sector, which sells the world’s most sought-after electric shaver brand.

The company said Kwak’s long-accumulated experience and capabilities in Korea’s fast-moving consumer goods industry will contribute to its efforts to strengthen the personal health business in the domestic market.

“Royal Philips’ personal health business sector has strived to provide innovative technologies to improve the Korean people’s quality of life and help them lead healthier lives,” Philips Korea Chief Executive Officer Dominique Oh said. “With Kwak’s deep understanding of Korean consumers and his experience in the fast-moving consumer goods industry, Philips Korea looks forward to meeting the rapidly-changing needs of Korean consumers and consolidating our leading position in the market.”

Philips Korea said Kwak, who took office on Tuesday, has extensive experience working at multinational corporations in Korea. He spent 12 years at Nike, the world’s largest sporting goods maker, and has served as the general manager of Nike Korea since 2009. As the head of Nike Korea, he doubled its revenue by expanding markets, implementing strategic pricing policies and conducting effective marketing investments, the company said.

“Philips is a leader in the consumer business and I look forward to working with this team bringing meaningful innovations in personal lifestyle to our consumers,” Kwak said.

Prior to his career at Nike, Kwak worked at McKinsey & Company in Chicago. He earned his master’s degree of business administration from the University of Chicago after graduating from McGill University in Montreal and Yonsei University’s Graduate School of International Studies.

Headquartered in Amsterdam, the multinational company has focused on three sectors that heavily rely on electronic technology ― healthcare, consumer lifestyle and lighting. As of last year, Philips has about 105,000 employees in sales and services operations in more than 100 countries. It posted 21.4 billion euros in sales last year.

The company is a leader in the cardiac care, acute care and home healthcare market; energy efficient lighting and new lighting applications; as well as male shaving and grooming and oral healthcare.