Avenue Supermarts, the parent company of India’s leading retail giant DMart, has confirmed a significant leadership transition. Anshul Asawa will officially assume the role of Chief Executive Officer starting February 1, 2026. This move follows a structured succession plan initiated in early 2025, when Asawa joined the firm as CEO Designate. The current Managing Director and CEO, Neville Noronha, will conclude his highly successful tenure at the close of business on January 31, 2026.
Noronha has been a foundational pillar for DMart since joining the company in 2004. Over his two-decade journey, he shepherded the brand from its infancy—with just five stores—to its current status as a retail powerhouse with over 380 outlets. Reflecting on his departure, Noronha shared his gratitude for the early leadership team and those who believed in the DMart idea. He noted that the business model has a multidecadal runway for growth provided it stays the course of simplicity, efficient costs, and deep value to customers.
The Board of Directors has lauded Noronha’s contribution, with Chairman C.B. Bhave describing him as a leader who saw the big picture without losing his eye for detail. Bhave emphasized that under Noronha’s stewardship, growth and profits were never the primary goals but rather the by-products of efficiency, fairness, and customer value.
Anshul Asawa steps into this role with a formidable background, having spent three decades at Unilever. An alumnus of IIT Roorkee and IIM Lucknow, Asawa has held senior leadership roles across India, Asia, and Europe, including serving as the Country Head for Unilever in Thailand. His expertise in sales, marketing, and digital transformation is expected to be a key asset as DMart navigates an increasingly competitive landscape marked by the rise of quick commerce and omnichannel retail.
Subject to shareholder approval, Asawa will also be appointed as Managing Director for a three-year term beginning April 1, 2026. His appointment comes at a time of financial strength for the company; Avenue Supermarts recently reported a 17 percent year-on-year rise in net profit for the third quarter, reaching Rs 856 crore. As the company expands its footprint, the focus remains on maintaining the low-cost operating model that has made DMart a household name in India.
