Deepinder Goyal steps down as Eternal Group CEO, Albinder Dhindsa to lead

Zomato and Blinkit parent Eternal has announced a leadership transition, with founder Deepinder Goyal stepping down as group CEO and Blinkit chief Albinder Dhindsa set to take charge from February 1

Marking a transition in leadership, Deepinder Goyal has stepped down as the group chief executive officer (CEO) of Eternal, the parent firm of food delivery platform Zomato and quick commerce (qcom) arm Blinkit. In his place, Albinder Dhindsa, who is currently leading Blinkit, will take charge as the group CEO. The effective date of appointment is February 1 this year.

 

While it’s currently subject to shareholders’ approval, Goyal will remain on the board of directors as vice chairman. The appointment will be for a period of five years from the date of receiving approval, according to a stock filing.

 

 

In a letter to shareholders, Goyal cited the reason for his resignation, mentioning that Eternal needs to stay sharply focused and disciplined, even as he explores new areas of growth. “Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal. If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not,” Goyal wrote.

 

He added that while his involvement in long-term strategy, culture, leadership development, and ethics and governance will continue, Dhindsa will take charge of day-to-day execution, operating priorities, and business decisions.

 

“Blinkit's journey from acquisition to break-even happened under his (Dhindsa's) leadership. He built the team, the culture, the supply chain, the operating rhythm. He has the DNA of a battle-hardened founder and his ability to execute far exceeds mine. He is more than capable of leading Eternal as group CEO. Blinkit remains our largest growth opportunity and will remain as Albi’s top priority,” Goyal mentioned.

 

As part of this transition, Goyal noted that all of his unvested Esops (employee stock ownership plans) will revert to the Esop pool. “This ensures that Eternal continues to have meaningful wealth-creation opportunities for its next generation of leaders while strengthening long-term retention without incremental shareholder dilution,” he added.