Galloway joined Boxer in 2012.
Justin Galloway will assume the role of Boxer’s CEO-designate with immediate effect. Picture: Supplied
Discount retailer Boxer has named Justin Galloway as the next CEO as Marek Masojada plans to retire at the end of February 2027. Galloway will assume the role from 1 March, 2027.
Masojada has been with the retailer since 1993 and has led it through major milestones, including its listing on the Johannesburg Stock Exchange (JSE) in November 2024.
The retailer made the announcement on Monday morning after releasing its financial performance for the first half of 2027.
14 years with Boxer
In a note to shareholders, Boxer said Galloway joined the retailer in 2012 and has held different senior positions. He has also served on the Group Executive since 2020.
“His appointment, after 14 years with Boxer and senior leadership roles spanning finance, store operations and supply chain, reflects the depth of leadership talent within the business and the strength of its succession planning.
“He has a strong track record in senior roles across the business, giving him broad operational experience and a deep understanding of the business. Initially starting in finance, he then moved into store operations and was a key contributor to the development of Boxer’s discount format between 2014 and 2020.”
From supply chain executive to CEO
The retailer described Galloway’s tenure as Group Executive for Supply Chain as “instrumental in scaling the distribution infrastructure supporting Boxer’s growing store footprint, while driving operational efficiency and helping the business navigate periods of significant disruption and change.”
The board has thrown its full support behind this decision, citing Galloway’s “leadership, extensive operational experience and strong understanding of the Boxer business position him well to lead the Company through its next phase of growth, supported by Boxer’s experienced executive team, which reflects the Group’s leadership bench strength.”
“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. I look forward to building on the strong foundations that have been established under Marek’s leadership with the same commitment that has guided me throughout my career,” said Galloway.
Built the retailer from the ground up
Outgoing CEO Masojada joined Boxer when it had just five stores and an annual turnover of R120 million. Today, the business has at least 600 stores and is listed on Africa’s largest stock exchange by a wide margin.
“He spent 25 years as Boxer’s head of finance before being appointed managing executive in 2019 and CEO in 2024. During his tenure, he played a key role in the Group’s growth and expansion, maintaining its low-price proposition while building the operational platform to support a rapidly growing store estate,” said Boxer.
“I am incredibly proud of how Boxer has grown, and I will retire knowing that the business is in a strong position. Having worked alongside Justin for many years, I know Boxer will continue its momentum,” said Masojada.
Boxer said Masojada and Galloway will work together until the end of February 2027, and Masojada will remain with Boxer until November 2027 to support Galloway and the Group Executive team.
Financial performance
The retailer delivered a resilient performance for the 26 weeks ended 30 August, 2026. Its turnover grew by 6.3% to R24.1 billion.
This came amid increased economic pressure on consumers, particularly after fuel price increases from May 2026 and deeper selling-price deflation.
During the period, Boxer reached its 600-store milestone, well on track against its target of 60 new stores for the end of 2027. The company opened 24 stores during the period, comprising nine Boxer Superstores and 15 Boxer Liquor stores.
Profit increases
Profit before tax and capital items increased 10.6% to R774 million, while trading profit increased 8.1% to R1.0 billion. The trading profit margin increased by 0.1 percentage points to 4.2%.
“Looking ahead, our focus remains firmly on the significant long-term opportunity ahead of us. We have a clear, strong value proposition, and significant room to expand our store footprint and customer reach,” said Masojada.
“Our priority is to execute consistently against that opportunity, and continue to offer our customers the best value possible, particularly when household budgets are under pressure.”
