D-Mart’s CEO Neville Noronha to step down next year

Avenue Supermarts business D-Mart’s CEO Neville Noronha has chosen not to renew his contract. The executive will step down from his role in January 2026 after more than 20 years at the business.  

“I deeply appreciate the opportunity I got to serve the business,” said Neville Noronha, ET Retail reported. “Extremely grateful to each and every one of the early leadership team, especially those who believed in the idea of D-Mart and stayed with us for a very long time.”

Noronha first joined D-Mart in 2004 and oversaw significant expansion across India during that time. D-Mart’s board of directors has appointed Anshul Asawa as the CEO designate starting from March 15, 2025. Asawa, who has worked at Unilever for three decades, will then take on the full responsibilities of CEO and managing director from February 1, 2026.   

“I believe that D-Mart is a business model that has a multi-decadal runway for growth,” said Noronha. “If we stay the course of simplicity, efficient costs, happy employees, deep value to customers, and most importantly not doing anything else, we will always remain relevant for a long time to come.”

D-Mart is headquartered in Mumbai and was established in 2002. The business specialises in value fashion as well as home and personal products, according to its website.