In a landmark moment for one of India’s most influential consumer internet companies, Deepinder Goyal has formally stepped down as Managing Director, Chief Executive Officer, and Director of Eternal Ltd, the company formerly known as Zomato Ltd. The transition, disclosed in a stock exchange filing on February 6, came into effect from the close of business hours on February 1, 2026, marking the end of Goyal’s day-to-day leadership at the company he founded and built into a household name.
The move completes a leadership reshuffle first announced on January 21, signalling a strategic shift in how Eternal plans to scale its multi-business ecosystem.
Credits: Ascendants
Albinder Dhindsa Steps In as Group CEO
Taking over operational leadership is Albinder Dhindsa, the CEO of Blinkit, who will now serve as Group CEO of Eternal. In his new role, Dhindsa will oversee execution, operating priorities, and business decision-making across the company’s expanding portfolio.
Dhindsa’s elevation reflects Eternal’s growing emphasis on quick commerce as a central growth driver. Under his leadership, Blinkit has undergone a remarkable transformation—from an acquisition that initially raised eyebrows to a business that has moved toward breakeven and emerged as a major player in India’s ultra-fast delivery market.
His appointment signals continuity in operational expertise while also aligning Eternal’s leadership with its fastest-growing vertical.
Goyal’s New Role: From Operator to Strategist
While stepping away from executive responsibilities, Deepinder Goyal is not completely exiting the company. He has expressed his intention to remain associated with Eternal as Vice Chairman of the board in a non-executive capacity, subject to shareholder approval.
In this new role, Goyal plans to shift his focus toward long-term strategy, leadership development, company culture, and governance standards. Instead of managing daily operations, he aims to shape Eternal’s broader vision and ensure that the company stays rooted in its founding principles.
This transition mirrors a growing trend among startup founders who, after scaling companies into listed entities, gradually move into strategic and mentorship roles while handing over execution to professional leadership teams.
ESOP Reset: Returning Unvested Options to the Pool
One of the most notable aspects of the leadership transition lies in its compensation implications. Eternal revealed that all of Goyal’s unvested employee stock options (ESOPs) will be returned to the company’s ESOP pool.
The decision is significant for two reasons. First, it ensures that the company retains sufficient incentives to reward and attract future leaders. Second, it avoids additional shareholder dilution, a factor that often becomes a concern for investors in publicly listed companies.
The move reinforces Eternal’s emphasis on long-term talent retention and leadership continuity.
Why Goyal Chose to Step Aside Now
In his communication with shareholders, Goyal offered a candid explanation for his decision. He noted that he has increasingly been drawn toward pursuing high-risk and experimental ideas—ventures that are often better explored outside the regulatory and operational constraints of a publicly listed company.
He also acknowledged the intense regulatory expectations and compliance requirements associated with leading a listed company in India. According to Goyal, fulfilling these responsibilities demands singular focus, making it difficult to simultaneously explore new entrepreneurial opportunities.
Blinkit at the Core of Eternal’s Growth Strategy
Blinkit’s rising prominence within Eternal played a key role in shaping the new leadership structure. Goyal described the quick commerce business as the company’s largest growth opportunity, highlighting its rapid progress since being acquired.
Dhindsa’s proven track record in scaling Blinkit and driving operational discipline made him a natural choice to steer Eternal’s next growth phase. As consumer preferences shift toward faster delivery timelines and convenience-led commerce, Blinkit is expected to play a defining role in the company’s future expansion.
What Remains Unchanged
Despite the leadership reshuffle, Eternal has clarified that its decentralised operating model will continue. Each business vertical—including food delivery, quick commerce, and B2B supply—will retain independent leadership, allowing focused growth while benefiting from the group’s shared infrastructure and strategy.
The company’s rebranding from Zomato Ltd to Eternal also reflects this diversified structure, signalling its evolution from a food delivery platform into a multi-vertical consumer and commerce ecosystem.
Credits: Moneycontrol
A Strategic Shift, Not an Exit
With the February 6 disclosure made under SEBI’s Listing Obligations and Disclosure Requirements, Eternal has formally closed the loop on its leadership transition. While Goyal’s exit from day-to-day management marks the end of an era, his continued involvement at the board level ensures that the founder’s vision remains embedded in the company’s long-term direction.
For Eternal, the leadership change represents not just a shift in management, but a calculated step toward building a scalable, future-ready organisation capable of navigating India’s rapidly evolving digital commerce landscape.
