Boxer Retail CEO Marek Masojada will retire in February 2027 after more than three decades with the South African discount retailer, which has grown from a five-store operation into a 600-store business under his tenure.
The retailer announced that Masojada, 61, will step down at the end of February 2027, marking the conclusion of its FY27 financial year.
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Justin Galloway, an internal successor who has spent 14 years with Boxer, has been appointed CEO-designate with immediate effect.
He will formally assume the position on 1 March 2027.
The succession process was established when Boxer listed on the Johannesburg Stock Exchange (JSE) in November 2024. The board considered both internal and external candidates before selecting Galloway.
From five stores to 600
Masojada joined Boxer in 1993, when the business operated just five stores and generated annual turnover of R120 million.
During his more than 30 years with the retailer, he played a key role in its expansion while helping maintain its focus on affordable prices.
He spent 25 years heading the finance function before becoming managing executive in 2019 and CEO in 2024.
One of the major milestones during his leadership was Boxer’s successful JSE listing in November 2024 and its transition to a publicly listed company.
“I am incredibly proud of how Boxer has grown, and I will retire knowing that the business is in a strong position,” Masojada said.
He also praised the people who contributed to the retailer’s development and said he was confident the business would continue to grow.
“Having worked alongside Justin for many years, I know Boxer will continue its momentum,” he said.
Who is Boxer’s incoming CEO?
Galloway is a chartered accountant who joined Boxer in 2012 and became a member of the group executive in 2020.
His experience spans finance, store operations and supply chain management, giving him a broad understanding of the retailer’s business.
He contributed to the development of Boxer’s discount retail format between 2014 and 2020 before taking responsibility for supply chain operations.
In that role, he helped expand the distribution infrastructure supporting Boxer’s growing store network, while focusing on operational efficiency.
The Boxer board said Galloway’s leadership experience and knowledge of the business positioned him well to lead the company through its next phase of growth.
Galloway said he was honoured to take on the role and build on the foundations established under Masojada’s leadership.
“It is a privilege to be able to lead a business valued by so many South Africans,” he said.
“Over the past 14 years, I have had the opportunity to work across different areas of Boxer and gain a deep understanding of our business, our customers and our people.”
Five-month leadership transition planned
The two executives will work alongside each other for five months to support continuity, knowledge transfer and the retailer’s ongoing strategy.
Although Masojada will retire as CEO at the end of February 2027, he will remain with Boxer until November 2027 to support Galloway and the group executive team.
The phased handover is intended to maintain momentum as the retailer moves into its next stage of growth.
Masojada’s departure marks the end of a significant chapter for Boxer, which has expanded substantially since he joined the business in 1993.