Zomato founder Deepinder Goyal has stepped down as the group chief executive officer of Eternal Ltd, handing over the role to Blinkit CEO Albinder Dhindsa with immediate effect.
In a letter to shareholders, Goyal stated that his decision was prompted by a growing inclination towards exploring new ideas that involve significantly higher levels of risk - pursuits he believes are better undertaken outside a listed company.
“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,” Goyal wrote. He added that if these ideas fell within Eternal’s strategic scope, he would have explored them within the company, but they do not.
“Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant to its current line of business,” he wrote.
(Also Read: Deepinder Goyal resigns as Eternal CEO, Blinkit's Albinder Dhindsa to take over)
{{/usCountry}}(Also Read: Deepinder Goyal resigns as Eternal CEO, Blinkit's Albinder Dhindsa to take over)
{{/usCountry}}Further, Goyal said, “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.”
“This transition allows Eternal to remain sharply focused, while giving me the space to explore ideas that do not fit Eternal’s risk profile,” he added.
What changes and what doesn’t?
While explaining the transition, Goyal clarified that his long-term commitment to Eternal remains unchanged. “I have spent eighteen years, almost half my life, building this company. I will continue doing that,” he said.
He also emphasised that his partnership with Albinder Dhindsa and Zomato CFO Akshant Goyal continues as before. “Our partnership, shared context, and trust remain unchanged,” he wrote. All business CEOs will retain the autonomy they have always had, he noted.
However, Goyal said that the centre of gravity for operational decisions will now move to Dhindsa. As Group CEO, he will oversee day-to-day execution, operating priorities, and key business decisions across the group.
Goyal praised Dhindsa’s leadership at Blinkit, crediting him with steering the quick-commerce platform from acquisition to breakeven. Calling Blinkit Eternal’s largest growth opportunity, Goyal said Dhindsa’s execution capabilities and founder-led mindset make him well-suited to lead the group in its next phase. “He is more than capable of leading Eternal as Group CEO,” he wrote.
“Blinkit remains our largest growth opportunity and will remain as Albi’s top priority. Our decentralised structure, where each business has a CEO with full ownership, continues unchanged - and will help Albi execute this well,” Goyal added.