NEW DELHI: Eternal, the parent entity of Blinkit and Zomato, on Wednesday said Deepinder Goyal will step down as its Group CEO and managing director with Blinkit CEO Albinder Dhindsa set to succeed him as Group CEO from February 1.
Goyal, in a letter to shareholders said he is stepping down from his current position to pursue new ideas that involve a “significantly higher-risk exploration “and will transition to the role of vice chairman.
Eternal informed exchanges that the appointment of Goyal as vice chairman & director on the board will be effective upon shareholders’ approval for a five-year term.
In the letter Goyal explained the reason behind his resignation saying of late he found himself “drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation .”
Goyal has been branching out and investing in other areas unrelated to the core business of Eternal, which owns Zomato and Blinkit. Last year, he announced that he would invest $25 million to expand his venture ‘Continue Research’ that aims to support research in health and longevity. He had also invested $20 million in LAT Aerospace, a startup cofounded by ex-Zomato COO Surobhi Das.
Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant to its current line of business, Goyal said.
He added that while he believes he has the bandwidth to continue what he is 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 stated.
Goyal shared that as the new Group CEO of Eternal, the centre of gravity for operating decisions moves to Albinder Dhindsa.
“As Group CEO, he (Albinder) will own day-to-day execution, operating priorities, and business decisions, “Goyal said, adding that Blinkit remains Eternal’s “largest growth opportunity “
Goyal informed shareholders that his financial future remains meaningfully tied to Eternal, and incentives remain aligned with long-term shareholder value creation. “As part of this transition, all of my unvested ESOPs 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 stated.
Sharing his vision for Eternal, Goyal stated, “I want Eternal to become India’s most valuable company. I want us to serve a billion customers. I want us to create the most positive impact on society. I want us to be the source of livelihoods for millions of Indians. None of that changes “
The parent entity of Zomato and Blinkit, among other businesses, was re-branded as Eternal last year. It was co-founded by Goyal in 2008, initially as a restaurant discovery platform called Foodiebay in Delhi, providing menus and reviews, before rebranding to Zomato in 2010.
Zomato listed on the stock exchanges in 2021, re-branded to Eternal last year to reflect its expansion beyond the food delivery business to quick commerce (Blinkit); Hyperpure (B2B supplies); District (ticketing, dining out, etc.), among others.
Eternal on Wednesday reported a sharp jump of 72.88 per cent in its consolidated profit for the Q3 of FY26, helped by strong growth in revenue.
The company said its consolidated net profit rose 72.88 per cent year-on-year to Rs 102 crore in Q3 FY26, compared with Rs 59 crore in the same quarter last financial year, as per an exchange filing.