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

More than 17 years after setting up Zomato, Deepinder Goyal has stepped down from the driver’s seat to pursue what he calls ''higher risk'' ideas. This comes within days of the government intervention to stop branding of 10-minute delivery following workers’ strike against poor wage structure and unsafe labour practices in the quick commerce space.     

 

In a surprise leadership reset, Goyal on Wednesday announced that he was stepping down as the group chief executive officer (CEO) of Eternal, the parent of food delivery platform Zomato and its quick commerce arm Blinkit. The co-founder of one of the largest homegrown consumer internet companies named Albinder Dhindsa, CEO of Blinkit, his successor. The leadership shift will come into effect on February 1. Goyal will remain on the board of directors as vice-chairman, subject to shareholders’ approval.

 

 

In a letter, Goyal conveyed to the shareholders that he would pursue ‘’higher risk’’ ideas, explaining his reason for stepping down. “Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation,’’ he wrote, adding that such ideas 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 pointed out.

 

Recently, the IITian has been engaged with ideas that are beyond internet commerce or food delivery platforms—the core business of Eternal. His aviation startup LAT Aerospace, which was co-founded with Surobhi Das, is one example of his new ideas. The company wants to build short take off and landing aircraft for regional travel. Goyal’s longevity theories have also been drawing attention. ‘’I’m saying gravity shortens lifespan,’’ he posted on X last month. Continue Research is an initiative backed by Goyal to analyse why humans age and what can slow down ageing.       

 

Eternal deserves to remain focused and disciplined while exploring new areas of growth that are relevant to its current line of business, Goyal told his shareholders. ‘’The centre of gravity for operating decisions moves to Albi. As group CEO, he will own day to day execution, operating priorities and business decisions.’’

 

He added: “While I believe I personally have the bandwidth to continue what I am doing at Eternal, and also explore new ideas outside of it, the expectations, legal and otherwise, of a public company CEO in India demand singular focus.”

 

“Blinkit's journey from acquisition to break-even happened under Dhindsa's leadership,’’ Goyal said, referring to his successor. He built the team, the culture, the supply chain, the operating rhythm, he said. ‘’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.”

 

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.

 

Dhindsa’s appointment coincides with the fast growth in quick commerce business. For the third quarter of FY26, revenue of the quick commerce business grew a whopping 776 per cent year-on-year to Rs 12,256 crore. The business also reported its first ever adjusted Ebidta profits.

 

Calling Blinkit the company’s largest growth engine, Goyal said Dhindsa had steered the platform from acquisition to breakeven.

 

In a recent video podcast with YouTuber Raj Shamani, Goyal had revealed that he had twice asked Dhindsa to step down after Zomato acquired Blinkit. “Right after we acquired Blinkit, I asked him (Albinder) to leave. I told him, ‘You will not be able to cut it.’ He said okay. This happened twice during that time frame, and we started the transition,” Goyal said.

 

Eternal (then Zomato) acquired Blinkit, formerly Grofers, in 2022 in an all-stock deal valued at about ₹4,447 crore. The acquisition was part of Zomato’s push into online grocery and quick commerce, a segment that had seen rapid growth during the Covid-19 pandemic.

 

The deal, however, drew scrutiny both for its valuation and for a perceived conflict of interest, given the long-standing relationship between Goyal and Dhindsa. Both studied at the Indian Institute of Technology, Delhi, in the early 2000s.

 

Dhindsa later worked as a senior associate at Cambridge Systematics before joining Zomato in 2011 as head of international operations, a role he held for four years. He went on to found Grofers in 2014, which Zomato eventually acquired eight years later.

 

As this career arc comes full circle, industry watchers will closely track how Dhindsa navigates Eternal through an intensifying quick-commerce battle, marked by aggressive expansion by incumbents and the entry of large e-commerce players.