Deepinder Goyal Steps Down as CEO of Eternal; Focuses on New High-Risk Initiatives

Deepinder Goyal, co-founder of Eternal Ltd., the parent company of Zomato and Blinkit, has stepped down as Chief Executive Officer and Managing Director of the company, the board said in a regulatory filing. The resignation takes effect from February 1, 2026.

In a letter addressed to shareholders, Goyal said he is stepping aside to pursue initiatives that do not fit within Eternal’s current strategic framework.

“Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation,” Goyal wrote. “These are the kinds of ideas that are better pursued outside a public company like Eternal.”

He added that if those ideas were aligned with Eternal’s strategic direction, he would have continued to pursue them within the company.

“If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not,” Goyal wrote.

He further wrote, "Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant to its current line of business.
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."

He also reflected on his journey while emphasising he will still be a part of the company, "I have spent eighteen years, almost half my life, building this company. I will continue doing that.
Albi, Akshant, and I will continue to work closely together, as we always have."

Goyal will remain with Eternal in the role of Vice Chairman, subject to shareholder approval.

Goyal also mentioned that his financial future remains meaningfully tied to Eternal, and his 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 concluded the note with, "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. This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work."

The board has appointed Albinder Singh Dhindsa, who currently serves as CEO of Blinkit, as Group CEO of Eternal. Dhindsa will take over day-to-day leadership of the company.

Eternal reported strong financial results for the quarter ended December 31, 2025, with consolidated net profit rising 73% year-on-year to ₹102 crore and revenue from operations increasing by 201% to ₹16,315 crore.

The leadership transition takes place as the company continues to expand its presence across food delivery, quick commerce, and related digital services.

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