Deepinder Goyal has announced his decision to step down as the Group CEO of Eternal, the parent company of Zomato. The company officially informed the stock exchange on Wednesday, January 21, that Albinder Dhindsa, the current CEO of Blinkit, will take over as the new Group CEO.
Reasons for the Leadership Change
Goyal stated that his resignation from the CEO position stems from a desire to focus on new ideas that involve higher risk and require extensive experimentation. He believes such ventures are better pursued outside the framework of a publicly listed entity like Eternal. Moving forward, Deepinder Goyal will serve as the Vice Chairman of the board. He expressed his commitment to Eternal’s long-term strategy, company culture, and leadership development, having dedicated 18 years to building the company.
Beyond Eternal, Goyal has also shown interest in other sectors, reportedly considering a significant personal investment in the space-tech company ‘Pixel.’ He is also involved with ‘Continuum’ for longevity and health research, and ‘LAT Aerospace’ in the aviation sector.
Albinder Dhindsa Assumes Group CEO Role
Deepinder Goyal expressed confidence in Albinder Dhindsa’s capabilities, crediting him with successfully turning around Blinkit from losses. Goyal highlighted Dhindsa’s “founder DNA” and superior execution skills. To ensure shareholder confidence and create opportunities for future leaders, Goyal has returned all his unvested ESOPs to the company’s pool, preventing any dilution of existing shareholder stakes.
Goyal reassured that Eternal’s operational structure will remain unchanged. The company operates on a decentralized model, with each business unit, such as Zomato and Blinkit, having its own CEO with full operational autonomy. Blinkit will continue to be a top priority for the group under Dhindsa’s leadership.
