Deepinder Goyal has stepped down as Group CEO of Eternal Limited, the parent company of food delivery platform Zomato, marking a significant leadership transition at the company.
Albinder Dhindsa, who currently serves as the CEO of Blinkit, will take over as the new Group Chief Executive Officer of Eternal.
Goyal announced the decision in a letter addressed to shareholders, which he also shared publicly on X. He clarified that while Dhindsa will assume responsibility for day-to-day execution, operational priorities, and business decisions, he himself will continue to remain closely associated with the company.
“As Group CEO, he will own day-to-day execution, operating priorities, and business decisions,” Goyal said in the letter.
Will Continue as Vice Chairman
Despite stepping down from the executive role, Goyal confirmed that he will remain on Eternal’s board as Vice Chairman, continuing to guide the company on long-term strategy, leadership development, culture, ethics, and governance.
Explaining the rationale behind the move, the 42-year-old founder said he has increasingly been drawn toward higher-risk experimentation and exploration, ideas that are better pursued outside the framework of a listed public company.
“The expectations, legal and otherwise, of a public company CEO in India demand singular focus,” Goyal noted, adding that Eternal must remain disciplined and sharply focused on its core strategy.
Focus on Stability, Strategy, and Future Leadership
Goyal emphasized that the leadership transition is aimed at strengthening Eternal’s institutional framework rather than slowing its momentum.
“Eternal is not going to lose focus or momentum through this change. Rather, it is reinforcing its institutional strength,” he said.
He also confirmed that he will continue working closely with Eternal CFO Akshant Goyal and Albinder Dhindsa during and after the transition.
ESOPs to Return to Pool
As part of the restructuring, Goyal announced that all his unvested ESOPs will revert to the ESOP pool, a move intended to create meaningful long-term wealth opportunities for future leaders while avoiding additional shareholder dilution.
The announcement comes shortly after Eternal reported a sequential rise in third-quarter profits, driven by strong demand for quick-commerce services through Blinkit.
