Key Points:
- Goyal exits the Eternal CEO role to pursue high-risk ventures.
- Dhindsa takes charge as new Group CEO.
- Eternal posts strong Q3 profit growth.
Deepinder Goyal will step down as group chief executive officer of Eternal on Feb. 1, handing leadership to Blinkit head Albinder Dhindsa as the founder shifts focus to higher-risk ventures outside the public company.
Leadership Transition Signals Strategic Shift at Eternal
Deepinder Goyal has resigned as group CEO of Eternal, the parent company of Zomato, effective Feb. 1, the company said Wednesday in a regulatory filing. Albinder Dhindsa, founder and CEO of Blinkit, will take over as group CEO, subject to shareholder approval.
Goyal will remain on Eternal’s board as vice chairman, continuing to be involved in long-term strategy, culture, leadership development, and governance. “Today, I am going to step away from the Group CEO role,” Goyal wrote in a letter to shareholders, adding that the change allows the company to stay focused while he explores ideas outside Eternal’s scope.
Eternal did not indicate any disruption to day-to-day operations, emphasizing continuity in leadership and structure. The company said its decentralized model, with individual CEOs running each business, will remain unchanged.
Goyal Cites Need for Focus as Public Company CEO
In his letter, Deepinder Goyal said he has recently been drawn to ideas involving “significantly higher-risk exploration and experimentation” that are better pursued outside a publicly listed company. He said the legal and operational expectations of a public company CEO in India require singular focus.
“If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company,” Goyal said. “They do not.”
Deepinder Goyal co-founded Zomato in 2008 and led its transformation from a restaurant discovery platform into a diversified consumer internet company. Under his leadership, Zomato went public in 2021 and later reorganized its businesses, including food delivery, quick commerce, and B2B supplies, under the Eternal umbrella.
Despite stepping down as CEO, Goyal said his financial future remains tied to the company. He holds about a 4.2% stake in Zomato, equivalent to roughly 369.5 million shares, a holding that has remained broadly stable in recent years.
As part of the transition, Goyal said all his unvested employee stock options will return to the ESOP pool, a move aimed at strengthening long-term retention and limiting shareholder dilution.
Dhindsa to Take Charge After Blinkit Turnaround
Albinder Dhindsa, known as Albi, will assume responsibility for day-to-day execution, operating priorities, and business decisions as group CEO. Deepinder Goyal credited Dhindsa with leading Blinkit from acquisition to breakeven, building its supply chain, cultur,e and operating rhythm.
“He has the DNA of a battle-hardened founder,” Goyal said, adding that Dhindsa’s ability to execute “far exceeds mine.”
Blinkit remains Eternal’s largest growth opportunity and will be Dhindsa’s top priority, the company said. Dhindsa will work closely with Goyal and other senior leaders, including co-founder Akshant Goyal, to ensure a smooth transition.
The leadership change comes as Eternal reported strong financial performance. The company posted a consolidated net profit of Rs 102 crore for the third quarter of fiscal year 2026, a 73% year-on-year increase from Rs 59 crore a year earlier. Revenue from operations rose to Rs 16,315 crore.
Eternal said it expects the transition to reinforce institutional strength rather than slow momentum. “This is a change in title, not in commitment towards outcomes,” Goyal wrote, reaffirming his long-term vision for the company.
