DMart’s long-serving Managing Director and CEO, Neville Noronha, will step down from his role in January 2026, parent company Avenue Supermarts announced in a stock exchange filing on Saturday.
Noronha, who has been with the company since 2004, decided not to renew his contract, bringing an end to a remarkable journey of over two decades with the retail giant.
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Reflecting on his tenure, Noronha said, “It has been an incredible privilege to serve this business. I am deeply thankful to the early leadership team, especially those who believed in the DMart vision and stood by it for years.”
Sharing his thoughts on the company’s future, Noronha added, “DMart has a long runway for growth if we continue to prioritize simplicity, cost efficiency, employee satisfaction, and delivering unmatched value to our customers. Staying true to these principles will keep the business relevant for decades to come.”
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C.B. Bhave, Chairman of Avenue Supermarts, praised Noronha’s leadership, saying, “Neville was a visionary leader who never lost sight of the details. For him, growth and profitability were not goals in themselves but outcomes of a business rooted in fairness, efficiency, and a relentless focus on customer value.”
