Avenue Supermarts Limited announced a significant change in its management structure. The Board of Directors, at a meeting held on January 10, 2026, accepted the conclusion of Mr. Ignatius Navil Noronha's term as Managing Director. He will cease to hold the positions of Managing Director and CEO effective the close of business hours on January 31, 2026. The Board expressed its gratitude for Mr. Noronha's contributions during his tenure.

Following the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Anshul Asawa as the Chief Executive Officer and Key Managerial Personnel of the Company, effective February 1, 2026. Mr. Asawa will also take over as the Managing Director for a term of three years, commencing April 1, 2026, subject to shareholder approval. Mr. Asawa is an alumnus of IIT Roorkee and IIM Lucknow and brings over 30 years of experience from Unilever, where he held various leadership roles in India, Asia, and Europe, including Country Head in Thailand and General Manager for Home Care in Greater Asia. He has a proven track record in sales, marketing, distribution, digitization, and product innovation.

Additionally, four officials have been designated as Senior Management Personnel, effective February 1, 2026, due to a change in the reporting structure: Mr. Sachin Jaolekar (Vice President - FMCG), Mr. Dastgir Shaikh (Vice President - General Merchandising), Mr. Shyam Gupta (Head - Apparels), and Mr. Rushabh Ghiya (Head - Investor Relations and Chief of Staff). Their profiles and tenures with the company have also been detailed.