New Delhi: In a significant leadership transition at Eternal Ltd (formerly Zomato), founder Deepinder Goyal has decided to step away from the group chief executive officer’s role and move to the board as vice chairman, subject to shareholder approval, according to a letter to shareholders seen by Industrial Front.
Albinder Dhindsa, co-founder and chief executive of Blinkit, will take over as Eternal’s new group CEO, marking a decisive shift in the company’s operating structure as it doubles down on execution discipline and its core growth engines.
In the letter, Goyal said the decision was driven by his desire to pursue “significantly higher-risk exploration and experimentation” that does not align with the strategic or risk framework of a listed company. He noted that the legal and governance expectations of a public company CEO in India demand singular focus.
Goyal clarified that the move does not mark a retreat from the company he founded nearly 18 years ago. He will continue to play a key role in long-term strategy, culture, leadership development, and ethics and governance, while day-to-day operational control will shift to Dhindsa.
As part of the transition, Goyal said all his unvested employee stock options will revert to the ESOP pool, a step aimed at strengthening leadership retention without incremental shareholder dilution. His financial interests, he added, remain closely aligned with long-term shareholder value creation.
Dhindsa’s elevation comes as Blinkit has emerged as Eternal’s largest growth engine. Goyal credited him with steering the quick-commerce platform from acquisition to breakeven, building its supply chain, execution culture and operating rhythm.
Eternal will continue with its decentralised operating structure, where each business vertical runs with its own CEO and autonomy, even as Blinkit remains Dhindsa’s top priority in his expanded role.
The leadership shift comes at a time when Eternal is seeking to balance growth ambitions with profitability and institutional maturity. Goyal described the move as a reinforcement of the company’s long-term strength rather than a loss of momentum, underlining that the transition reflects a “change in title, not in commitment”.