Avenue Supermarts has announced a leadership transition, with Mr. Ignatius Navil Noronha’s term as Managing Director concluding on January 31, 2026. Mr. Anshul Asawa, currently CEO Designate, will take over as CEO on February 1, 2026, and as Managing Director from April 1, 2026, pending shareholder approval. Several other management changes were also announced.
Leadership Changes at Avenue Supermarts
Avenue Supermarts has announced a change in management, with Mr. Ignatius Navil Noronha concluding his term as Managing Director on January 31, 2026. He will cease to hold office at the close of business hours on that day.
The Board of Directors acknowledged and appreciated Mr. Noronha’s contribution, guidance, and support during his tenure.
Appointment of New CEO and Managing Director
Effective February 1, 2026, Mr. Anshul Asawa, the current CEO Designate, will be appointed as Chief Executive Officer and Key Managerial Personnel of the Company. Furthermore, starting April 1, 2026, Mr. Asawa will also assume the role of Managing Director for a term of 3 years, subject to shareholder approval.
Mr. Asawa joined DMart on March 17, 2025, bringing 30 years of experience from Unilever, where he held leadership roles across various regions, including India, Asia, and Europe.
Senior Management Designations
Effective February 1, 2026, the following officials will be designated as Senior Management Personnel due to changes in the reporting structure:
- Mr. Sachin Jaolekar, Vice President – FMCG
- Mr. Dastgir Shaikh, Vice President – General Merchandising
- Mr. Shyam Gupta, Head – Apparels
- Mr. Rushabh Ghiya, Head – Investor Relations and Chief of Staff
Mr. Sachin Jaolekar joined the company in September 2023 and brings over 25 years of experience in the FMCG and retail sectors, previously holding senior leadership positions at Hindustan Unilever Limited.
Mr. Dastgir Shaikh has been with the Company since September 2005, bringing with him 26 years of experience in the Indian consumer goods and modern retail sector.
Mr. Shyam Gupta joined the company in March 2023. He has 25 years of professional experience across Apparel Retail and Apparel Exports. Prior to joining DMart, he was working with Shoppers Stop Ltd.
Mr. Rushabh Ghiya has been with Avenue Supermarts Ltd (DMart) since August 2017 and has a total work experience of more than 18 years. He previously worked with Kotak Investment Banking.
Source: BSE
