In a surprise leadership shake-up, Eternal Ltd. founder Deepinder Goyal has resigned as Group CEO after 18 remarkable years, transitioning to Vice Chairman. Blinkit CEO Albinder Dhindsa, Goyal’s longtime friend and trusted lieutenant, assumes the top role immediately.
Why the Sudden Change?
Goyal explained in a candid shareholder letter: “Of late, I have found myself drawn to a set of new ideas that involve higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal.”
He stressed Eternal must stay “focused and disciplined” on core growth areas, while his ventures lie beyond the listed firm’s risk profile. Public company regulations demand singular CEO focus, Goyal noted.
Smooth Transition, Unchanged Vision
Dhindsa, who transformed Blinkit from acquisition to profitability, now owns “day-to-day execution, operating priorities, and business decisions.” Goyal retains influence over long-term strategy, culture, leadership, and governance.
“Our partnership remains unchanged,” Goyal affirmed. Blinkit stays Dhindsa’s top priority within Eternal’s decentralized structure. Goyal reverted all unvested ESOPs to the pool, ensuring retention incentives without shareholder dilution.
From Zomato to Eternal Empire
Eighteen years ago, Goyal’s menu-scanning startup seemed absurdly ambitious. Today, Eternal serves millions daily, employs lakhs, and boasts billion-dollar valuation. “I want Eternal to become India’s most valuable company,” Goyal recommitted.
