Deepinder Goyal resigns as Eternal CEO; says, 'Eternal deserves to remain focused and disciplined...'

Eternal Limited, formerly known as Zomato Limited, has announced a top leadership transition, with founder Deepinder Goyal stepping down as Managing Director and CEO, and Blinkit CEO Albinder Singh Dhindsa set to take over the role from February 1, 2026.

In a stock exchange filing, the board of Eternal Limited said it had accepted Goyal’s resignation as Director, Managing Director and CEO, effective at the close of business hours on February 1, 2026. The board has also recommended Goyal’s appointment as Vice Chairman and Director for a five-year term, subject to shareholder approval.

At the same meeting, the board approved the appointment of Albinder Singh Dhindsa, currently CEO of Blinkit, as CEO and Key Managerial Personnel of the company with effect from February 1. The company said Dhindsa is not related to any of the directors or key managerial personnel, and that there are no regulatory restrictions on his appointment.

The board also approved the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The results have undergone a limited review by Deloitte Haskins & Sells, the statutory auditors.

In a separate letter to shareholders, Deepinder Goyal said his decision to step down was driven by a desire to pursue “new ideas that involve significantly higher-risk exploration and experimentation”, which he said 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.

“If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. 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 said.

He further said day-to-day operating decisions would now move fully to Dhindsa.

“As Group CEO, he will own day-to-day execution, operating priorities, and business decisions,” Goyal said, adding that Dhindsa’s handling of Blinkit’s journey from acquisition to breakeven demonstrated his ability to lead the group.

As part of the transition, all of Goyal’s unvested employee stock options will revert to the company’s ESOP pool, according to the disclosure.

Goyal founded Zomato in 2008 with Pankaj Chaddah, initially launching the platform as Foodiebay before it evolved into one of India’s largest food delivery companies. In recent years, Eternal has expanded into quick commerce through Blinkit, which Dhindsa founded and continues to lead.

Over the past year, Goyal has also begun investing time and capital in ventures outside Eternal, including deep-tech, longevity and personal research projects. He has invested $20 million in LAT Aerospace, founded by former Zomato chief operating officer Surobhi Das, where he serves as a non-executive cofounder. He has also launched Continue, a health and wellness initiative focused on extending human lifespan, and Temple, a wearable device aimed at monitoring brain blood flow.

In a recent podcast interview, Goyal said he had been open to stepping away from the top role for several years, around the time cofounder Pankaj Chaddah exited the company. “For two-three years, I was ready to step down, thinking that I can’t be CEO now, this is a very large organisation. Chief product officer is my game,” he said.