Discount retailer Boxer has made some changes to its executive team, with Pick n Pay CEO Sean Summers set to take over as its non-independent non-executive chair at the start of March this year.
Boxer was unbundled and separately listed from Pick n Pay in 2024, though Pick n Pay retains a majority stake in the company.
On Friday, 20 February, Boxer announced that it had made some major changes to its executive team and board.
The retailer previously announced that its chair, James Formby, will step down from this role with effect from 28 February 2026. He will remain on the board as a non-independent non-executive director.
Summers has been selected to take over Formby’s role, assuming the position of non-independent, non-executive chair of Boxer starting on 1 March 2026.
Boxer explained that, related to this change in chairmanship, Summers will step down as a member of the company’s Remuneration Committee, also with effect from 1 March 2026.
In turn, Formby will be appointed as a member of the Remuneration Committee with effect from the same date.
“The board expresses its sincere appreciation to James for his leadership and valuable contribution as chair of the company and looks forward to his continued service as a non-executive director and committee member,” Boxer said.
“The board welcomes Sean as chair and is confident that his extensive retail experience and strategic leadership will support the company’s continued growth and performance.”
Boxer’s latest trading statement revealed that the retailer is on track for a strong 2026 financial year.
In the 48 weeks ended 1 February 2026, Boxer grew its turnover by 11.9%, and a more muted 3.9% on a like-for-like basis.
The retailer is also on track to meet its 2026 store rollout guidance. Boxer has undergone an aggressive expansion over the past few years, now operating over 500 stores across the country.
The retailer has set a target of opening 60 new stores on a full-year basis in the 2026 financial year.
Boxer’s 2026 financial year will end on 1 March 2026, with the retailer expected to release its full-year results on 11 May 2026.
Source: https://dailyinvestor.com/retail/120988/pick-n-pay-ceo-sean-summers-gets-another-job/