Navil Noronha to Step Down as DMart CEO After Two Decades of Growth

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Navil Noronha to Step Down as DMart CEO After Two Decades of Growth

Navil Noronha to Step Down as CEO of Avenue Supermarts

Navil Noronha, the CEO of Avenue Supermarts, the parent company of DMart, has announced his decision to step down after over two decades at the helm. His contract, which ends in January 2026, will not be renewed, marking the end of a transformative era for the company he joined in 2004.

During Noronha's tenure, DMart witnessed remarkable growth, expanding from just five stores to over 380 and achieving milestones like surpassing ₹50,000 crore in annual turnover. The Board of Directors expressed their profound gratitude for his extraordinary contribution to the company.

A leadership transition plan is already in place. Anshul Asawa, a seasoned leader from Unilever, will take over as CEO Designate on March 15, 2025. Asawa, an IIT Roorkee and IIM Lucknow alumnus, currently serves as Unilever's Country Head in Thailand and General Manager for the Home Care business unit in Greater Asia. He will officially assume the role of MD and CEO on February 1, 2026.

Noronha, who owns a 1.95% stake in DMart worth approximately ₹4,700 crore, guided the company's growth with a philosophy of simplicity, efficiency, and customer value. Under his leadership, DMart became one of India's largest supermarket chains, earning him accolades for his ability to combine big-picture vision with meticulous execution.

Reflecting on his tenure, Noronha emphasized the importance of staying the course of simplicity, efficient costs, happy employees, and deep value to customers. He expressed confidence in a smooth leadership transition and offered continued counsel beyond his tenure.