{"id":879274,"date":"2026-10-12T08:10:33","date_gmt":"2026-10-12T06:10:33","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=879274"},"modified":"2026-10-12T08:10:33","modified_gmt":"2026-10-12T06:10:33","slug":"end-of-an-era-for-boxer-after-30-years","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/879274\/end-of-an-era-for-boxer-after-30-years\/","title":{"rendered":"End of an era for Boxer after 30 years"},"content":{"rendered":"\n

Boxer CEO Marek Masojada will retire in February 2027 after more than 30 years with the South African discount retailer.<\/p>\n\n\n\n

This brings an end to an era in which the business grew from five stores into a 600-store operation.<\/p>\n\n\n\n

Boxer Retail Limited announced that Masojada, 61, will step down at the end of February 2027, when the group concludes its financial year.<\/p>\n\n\n\n

Justin Galloway, who has spent 14 years at the company, has been appointed CEO-designate with immediate effect and will formally take over on 1 March 2027.<\/p>\n\n\n\n

Masojada joined Boxer in 1993, when the business generated an annual turnover of R120 million. He spent 25 years heading its finance function before becoming managing executive in 2019 and CEO in 2024.<\/p>\n\n\n\n

During his tenure, he helped oversee the retailer’s expansion while maintaining its focus on affordable prices.<\/p>\n\n\n\n

He also led Boxer through its listing on the Johannesburg Stock Exchange (JSE) in November 2024, marking a significant milestone in the company’s development.<\/p>\n\n\n\n

\u201cI am incredibly proud of how Boxer has grown, and I will retire knowing that the business is in a strong position,\u201d Masojada said.<\/p>\n\n\n\n

\u201cI have had the privilege of working with many talented people over the years who remain dedicated to serving as the People\u2019s Champion.\u201d<\/p>\n\n\n\n

He added that he was confident the company’s leadership, strategy and capabilities would allow it to continue growing.<\/p>\n\n\n\n

\u201cHaving worked alongside Justin for many years, I know Boxer will continue its momentum,\u201d he said.<\/p>\n\n\n\n

Galloway’s appointment follows a succession process established when Boxer listed on the JSE. The board considered both internal and external candidates before selecting him.<\/p>\n\n\n\n

A chartered accountant, Galloway joined Boxer in 2012 and became a member of its group executive in 2020. His experience spans finance, store operations and supply chain management.<\/p>\n\n\n\n

He contributed to the development of Boxer’s discount retail format between 2014 and 2020 before taking responsibility for supply chain operations.<\/p>\n\n\n\n

Boxer continues expanding in South Africa <\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

In that role, Galloway helped build the distribution infrastructure needed to support the retailer’s expanding store network, while improving operational efficiency and managing periods of disruption.<\/p>\n\n\n\n

The board said his leadership experience and understanding of the business positioned him well to guide Boxer through its next phase of growth.<\/p>\n\n\n\n

\u201cIt is a privilege to be able to lead a business valued by so many South Africans,\u201d Galloway said.<\/p>\n\n\n\n

He added that working across different parts of the company had given him a strong understanding of its customers, employees and operations.<\/p>\n\n\n\n

\u201cI look forward to building on the strong foundations that have been established under Marek\u2019s leadership with the same commitment that has guided me throughout my career,\u201d he said.<\/p>\n\n\n\n

The transition will be phased, with the incoming and outgoing CEOs working together for 5 months to ensure continuity and knowledge transfer. Masojada will remain with Boxer until November 2027 to support Galloway and the executive team.<\/p>\n\n\n\n

The leadership change comes as Boxer continues to expand despite pressure on South African consumers and rising operating costs.<\/p>\n\n\n\n

In its interim results for the 26 weeks ended 30 August 2026, the retailer reported a 6.3% increase in turnover to R24.1 billion.<\/p>\n\n\n\n

Profit before tax and capital items rose 10.6% to R774 million, while headline earnings increased 9.1% to R565 million. Trading profit grew 8.1% to R1.006 billion, and the gross profit margin improved to 20.7%.<\/p>\n\n\n\n

The group also reported implied like-for-like volume growth of 3.8%, which shows that sales volumes increased despite selling-price deflation.<\/p>\n\n\n\n

Boxer opened 24 net new stores during the first half of its financial year, reaching the 600-store milestone. It remained on track to open 60 net new stores during the full 2027 financial year.<\/p>\n\n\n\n

The board also declared an interim dividend of 49.93 cents per share, up 10.2% year on year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Boxer’s CEO is set to retire after more than 30 years, bringing an end to an era in which the business grew from five stores into a 600-store operation in South Africa. <\/p>\n","protected":false},"author":92,"featured_media":879275,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"failed","_sma_x_autopost_error":"Instagram publishing failed: Instagram returned HTTP 400: Media ID is not available","_sma_x_post_id":"2109527247212232996","_sma_facebook_post_id":"191437357620492_2234413637379035","_sma_instagram_post_id":"","_sma_x_attempts":1,"footnotes":""},"categories":[9872],"tags":[6655,853],"class_list":["post-879274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-boxer","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=879274"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879274\/revisions"}],"predecessor-version":[{"id":879279,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879274\/revisions\/879279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/879275"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=879274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=879274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=879274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}