Deepinder Goyal Steps Down as Eternal CEO; Blinkit Head Albinder Dhindsa To Take Over

Highlights

• Eternal founder and Group CEO Deepinder Goyal is stepping down to become Vice Chairman.
• Blinkit head Albinder Dhindsa will be taking over as Group CEO.
• Eternal’s shares rose nearly 5% after the announcement as the company reported a 73% profit rise.

Deepinder Goyal, founder and Group CEO of Eternal, the parent company of Zomato and Blinkit, has announced that he is stepping away from the top executive role. Goyal said the responsibilities of leading a listed company no longer allow him the freedom to pursue the kind of high-risk ideas he is increasingly interested in exploring.

In a letter addressed to shareholders and shared on social media, Goyal revealed that he will transition to the role of Vice Chairman, subject to shareholder approval. Taking over as the new Group CEO of Eternal will be Albinder Dhindsa, who currently leads the company’s quick commerce arm, Blinkit.

Following the announcement, Eternal’s shares closed at Rs 283.40 on the BSE on Wednesday, marking a gain of 4.98%.

Why Deepinder Goyal Is Stepping Aside?

Explaining his decision, Goyal said he wants to focus on ideas that involve “significantly higher-risk exploration and experimentation.” He clarified that these initiatives fall outside Eternal’s strategic priorities and risk framework and are therefore better pursued independently of a public company.

“If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not,” Goyal wrote in his letter.

He added that while he personally has the capacity to manage multiple responsibilities, the legal and governance expectations that come with being the CEO of a publicly listed company in India require complete and undivided attention.

According to Goyal, the leadership transition will allow Eternal to remain focused and disciplined. At the same time, it will give him the flexibility to work on projects beyond the company’s defined business scope.

Albinder Dhindsa to Lead Eternal as Group CEO

Albinder Dhindsa will now take charge as Eternal’s Group CEO with the operational “centre of gravity” shifting to him. Dhindsa will oversee daily execution, business priorities, and key decision-making across the group.

Highlighting Dhindsa’s track record, Goyal noted, “Blinkit’s journey from acquisition to breakeven happened under his leadership.” He described him as a “battle-hardened founder” with a stronger execution focus. Blinkit will continue to be Eternal’s primary growth driver and Dhindsa’s main area of attention.

Goyal emphasised that he is not exiting the company. In his new role, he will remain closely involved in shaping long-term strategy, company culture, leadership development, and governance. He also stated that his financial future remains closely linked to Eternal.

As part of the transition, Goyal said all of his unvested ESOPs will be returned to the ESOP pool. This move, he explained, is intended to help create wealth for the next generation of leaders without increasing dilution for existing shareholders.

“Eternal remains my life’s work,” Goyal wrote, adding that his long-term vision is for the company to become India’s most valuable firm, serve a billion customers, and generate livelihoods for millions.

He described the leadership change as a shift in title rather than a reduction in commitment.

The announcement also comes at a time of strong financial performance for the group. Eternal reported a 73% rise in quarterly profit. Blinkit, meanwhile, posted adjusted core earnings of 40 million rupees, compared with a loss of 1.56 billion rupees in the previous quarter.

FAQs

Q1. Why did Deepinder Goyal step down as Eternal’s Group CEO?

Answer. Goyal said leading a listed company limits his ability to pursue high-risk, experimental ideas outside Eternal’s strategic priorities. He will now serve as Vice Chairman.

Q2. Who is taking over as Eternal’s new Group CEO?

Answer. Albinder Dhindsa, head of Blinkit, will become Eternal’s Group CEO. He will oversee daily execution, business priorities, and decision-making across the group.

Q3. How will Deepinder Goyal remain involved with Eternal?

Answer. Goyal emphasised he is not exiting the company. As Vice Chairman, he will focus on long-term strategy, culture, leadership development, and governance, while returning his unvested ESOPs to support future leaders.

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https://www.mymobileindia.com/zomato-founder-deepinder-goyal-and-wife-grecia-munoz-delivered-food-orders-in-gurugram-shares-details-kapil-show/