Deepinder Goyal steps down as Eternal Group CEO, Albinder Dhindsa to take over

Eternal Limited, formerly Zomato, on Wednesday informed stock exchanges that founder Deepinder Goyal will step away from his role as Group CEO. He will continue on the board as Vice Chairman.

The company said Albinder Dhindsa will take over as the new Group CEO of Eternal. The disclosure was made through a letter addressed to shareholders and filed with stock exchanges.

Dhindsa became part of Eternal in 2022 following the acquisition of Blinkit in a $568 million deal.

In the letter, Goyal said the move would allow Eternal to remain focused as a public company, while giving him space to explore ideas that fall outside the company’s risk profile. He added that if such ideas were aligned with Eternal’s strategy, they would have been pursued within the company.

Goyal said his involvement in long term strategy, culture, leadership development, and governance will continue, and that he will keep working closely with Dhindsa and the leadership team.

As part of the transition, Goyal said all his unvested ESOPs will revert to Eternal’s ESOP pool, aimed at supporting wealth creation for future leaders without incremental shareholder dilution.

As per the company, the day to day execution and operating decisions will now be led by Dhindsa as Group CEO, while its decentralized structure, where each business is run by its own CEO, will remain unchanged.