DMart's fundamental business principles should stay intact: CEO Neville Noronha
Neville Noronha, the chief executive of Avenue Supermarts that operates DMart retail stores, said the foundational ethos and principles that have guided the company should remain unchanged, irrespective of leadership transitions.
«We operate on straightforward, fundamental business principles, and these must stay intact. While strategies and operational details might evolve, the culture of the company should never be compromised,» he said in a chat with ET, a day after announcing his plan not to extend his contract as CEO. Noronha has spent more than two decades in the supermarket chain.
On Saturday, Avenue Supermarts announced that Anshul Asawa will replace Noronha in February 2026, after the latter chose not to continue.
«One of the many reasons I decided not to offer myself is simply, because it's been a long time. Twenty-two years is a good time,» he said. «I also believe that the company is in good shape with good systems and processes, high-quality and deep leadership. Someone else can do this as well as I can or even better. It's primarily smooth, easy sailing of a big ship in still waters most times.»
Asawa has been appointed CEO-designate, effective March 15, 2025. He currently serves as country head of Unilever in Thailand and general manager for its home care business unit in Greater Asia.
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