D-Mart appoints Anshul Asawa as CEO, Neville Noronha to step down in 2026

Don't want to miss the best from Business Standard?

Avenue Supermarts, which owns and operates the retail chain D-Mart, has announced a top-level management reshuffle with the appointment of Unilever's Anshul Asawa as its CEO Designate.

Asawa currently serves as Country Head of Unilever in Thailand and General Manager for the Home Care business unit in Greater Asia. 

 

The incumbent Managing Director and CEO Neville Noronham, whose current term is ending in January 2026 - a year from now, will not be offering his candidature for renewal of his role, according to a statement from Avenue Supermarts.

"The Board of Directors honours his decision and expresses profound gratitude for his extraordinary contribution to the company. The Board has appointed Anshul Asawa as the CEO Designate, effective March 15, 2025," it said.

Noronha has been associated with D-Mart for the last two decades.

He joined DMart in January 2004 and has shepherded the company from its early years -- from 5 stores to its current position as one of the largest supermarket chains with more than 380 stores now.

Asawa, an IIT Roorkee and IIM Lucknow alumnus, will be joining DMart after a 30-year-long stint at Unilever, where he had leadership roles overseeing the growth of product categories in India, Asia, and Europe.

During his tenure of over 15 years in India, Asawa held key leadership positions in sales, marketing and distribution.

"Neville will support Anshul for a smooth transition over the next year as the latter joins the company in March 2025. Anshul is expected to take over as the MD and CEO on the 1st of February, 2026, upon the completion of Neville's term in that position," the statement said.

Commending Noronha's contribution, the company said his tenure at DMart has been defined by transformative growth, a deep commitment to operational excellence, and the establishment of a strong corporate culture.

"He has demonstrated exceptional leadership skills and dedication in his remarkably successful tenure. A leader who saw the big picture but never lost the eye for detail, Neville made sure that growth and profits were not ends in themselves rather they were the by-products of efficiency, fairness and customer value," said Avenue Supermarts Chairman CB Bhave.

Mumbai-based Avenue Supermarts was operating 387 stores as of December 31, 2024.