Avenue Supermarts DMart has announced a major leadership restructuring, streamlining its senior management team to four executives effective February 1. In a stock exchange filing dated January 10, the company outlined this significant organizational change that marks a departure from its recent years of increasingly layered management structure.

New Leadership Structure

The restructured senior leadership team comprises four key executives with distinct category-focused responsibilities:

This represents the first major organizational change initiated by the board since Asawa assumed charge as chief executive, taking over from Ignatius Navil Noronha in March of the previous year. Asawa brings nearly 30 years of experience from consumer-packaged goods giant Unilever, having served in top roles across India, Europe, the UK, and Thailand.

Evolution of DMart's Management Structure

DMart's leadership structure has undergone significant changes since its 2017 listing. The company initially started with a nine-member team including separate roles for managing director, chief executive, and regional COOs. By 2025, this structure had expanded to a 14-member senior management team with dedicated COOs for west, north, and south India, along with specialized heads for food services and pharmacy verticals.

This evolution reflects DMart's growth trajectory, with market capitalization expanding from ₹37,000.00 crore at listing to over ₹2.47 trillion currently.

Strategic Rationale Behind Restructuring

According to executive search experts, leadership requirements evolve as companies scale through different growth phases. The streamlined structure focuses on DMart's three main revenue streams: FMCG, non-food, and apparel, with dedicated leadership for each segment. This approach prioritizes precision over scale at the top management level.

The restructuring comes as DMart faces intensified competition from quick commerce platforms, e-commerce-led pricing pressures, and evolving consumer expectations. These market dynamics are forcing large retail incumbents to rethink their speed, accountability, and decision-making structures.

Comparison with Industry Peers

DMart's lean leadership model contrasts sharply with more function-heavy structures adopted by listed peers:

• Vishal Mega Mart: Maintains broad, layered structure with multiple C-suite roles spanning finance, operations, IT, and HR, plus dedicated officers for different merchandising categories
• Spencer's: Follows expansive model with larger senior management including CEO, managing director, whole-time director, CFO, and various functional heads

Implementation Challenges and Risks

Leadership transitions carry execution risks, particularly for operationally disciplined companies like DMart. Key challenges include:

• Maintaining operational excellence during transition period
• Potential loss of institutional knowledge as long-serving leaders exit
• Ensuring seamless coordination across reduced management layers
• Adapting to competitive retail landscape while preserving execution strength

The success of this restructuring will depend on the new team's ability to maintain DMart's core operational advantages while enhancing agility and decision-making speed in response to evolving market conditions.

Avenue Supermarts Limited has announced a major leadership transition as the tenure of Managing Director and Chief Executive Officer Ignatius Navil Noronha concludes on January 31, 2026. The company has simultaneously appointed Anshul Asawa as the new CEO, marking a significant milestone in DMart's corporate governance structure.

Leadership Transition Details

Noronha will cease to hold office as Managing Director and CEO with effect from the close of business hours on January 31, 2026. Based on the recommendation of the Nomination and Remuneration Committee, the Board has approved Asawa's appointment as Chief Executive Officer and Key Managerial Personnel effective February 1, 2026.

New CEO Profile

Asawa, currently serving as CEO Designate, brings extensive leadership experience to his new role. An alumnus of IIT Roorkee and IIM Lucknow, he joined DMart in March 2025 after a distinguished three-decade career at Unilever. During his tenure at Unilever, Asawa held several senior leadership positions across India, Asia, and Europe, providing him with comprehensive global business experience.

Organizational Restructuring

The company has designated four officials as Senior Management Personnel effective February 1, 2026, reflecting changes in the reporting structure:

• Sachin Jaolekar: Vice President – FMCG
• Dastgir Shaikh: Vice President – General Merchandising
• Shyam Gupta: Head – Apparels
• Rushabh Ghiya: Head – Investor Relations and Chief of Staff

Strong Financial Performance

DMart's third quarter results demonstrate robust business fundamentals during this leadership transition period. The company delivered impressive financial metrics across key performance indicators.

Market Response

Shares of Avenue Supermarts ended higher on the NSE on January 9, 2026, closing at ₹3,807.00, representing a gain of 0.45%. The positive market response reflects investor confidence in the company's leadership transition and continued business momentum.