With shares of the company he runs skyrocketing, DMart's Navil Noronha has extended the gap between India's other professional CEOs and himself.
Retail giant DMart is a household name in scores of Indian cities. Its parent company Avenue Supermarts Ltd went public 4 years ago. Since then, the business has grown in leaps and bounds, making the founder, stock market veteran Radhakishan Damani, India’s second richest person at one point, and currently India's fourth richest person. But alongside Damai, Avenue Supermarts also boasts in its ranks the richest professional CEO of India, Ignatius Navil Noronha. Worth Rs 5,146 crore today, here’s how Navil Noronha climbed the ladders of success to become India’s richest manager.
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Navil Noronha's corporate origins
Hailing from Mumbai, Navil Noronha is a rich man who keeps a low profile. He pursued his graduation in science from SIES College of Arts, Science and Commerce before earning a management degree from the Narsee Monjee Institute of Management Studies (NMIMS). Prior to his entry into DMart, Noronha worked with legacy FMCG player Hindustan Unilever, gaining experience in diverse fields including sales, market research and modern trade. Then came the turning point when Noronha, in his late 20s, was recruited by Damani.
Navil Noronha, the humble CEO
Navil Noronha is admired in the business circles for being a humble CEO. A diligent executive, Noronha has only missed attending the office on one occasion since the company’s IPO. That was to celebrate the birthday of his daughter. Noronha is not an extravagant CEO with a lavish office. As per one leading business daily, his office is around a quarter of the size of the offices usually occupied by leading CEOs.
Pics courtesy: Twitter