Deepinder Goyal formally resigns as MD, CEO and director of Eternal; Albinder Dhindsa takes charge

Deepinder Goyal formally resigns as MD, CEO and director of Eternal; Albinder Dhindsa takes charge

Eternal Ltd, formerly Zomato Ltd, on February 6 disclosed that co-founder Deepinder Goyal has formally resigned as managing director, chief executive officer and director of the company, as per a stock market filing.

The company said Goyal’s resignation took effect from the close of business hours on February 1, 2026. The disclosure, made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, encloses Goyal’s signed resignation letter dated January 21, 2026, addressed to the company’s board.

Goyal had earlier announced on January 21 that he would step down from the Group CEO role — a development that Moneycontrol had reported earlier, alongside the appointment of Blinkit CEO Albinder Dhindsa as his successor.

In his resignation letter, Goyal said he is stepping down as director, managing director and CEO of Eternal, along with resigning from “various committees” he is part of, signalling a complete exit from executive and board-level responsibilities linked to the MD and CEO role.

Eternal said the February 6 filing is being made in continuation of its earlier disclosure to stock exchanges.

Alongside the statutory filing, the company also attached Goyal’s letter to shareholders, in which he said he would, subject to shareholder approval, continue on the board as vice chairman in a non-executive capacity. In that role, Goyal said his focus will be on long-term strategy, culture, leadership development, and ethics and governance, while stepping away from day-to-day execution.

The shareholder letter also disclosed that all of Goyal’s unvested employee stock options will revert to the ESOP pool as part of the transition. The company said this would allow continued incentives for future leaders without incremental shareholder dilution.

Explaining his decision, Goyal said he has increasingly been drawn to exploring higher-risk ideas that are better pursued outside a public company, adding that the expectations and regulatory demands of being a listed-company CEO in India require singular focus.

Under the revised leadership structure, Dhindsa will assume responsibility for operating priorities, execution and business decisions as Group CEO. Goyal described Blinkit as Eternal’s largest growth opportunity, noting that its journey from acquisition to breakeven occurred under Dhindsa’s leadership.

Eternal, which rebranded from Zomato Ltd to reflect its broader group structure spanning food delivery, quick commerce and B2B supply, said its decentralised operating model — with individual CEOs running each business — will continue unchanged.

The February 6 disclosure completes the leadership transition announced last month, marking a governance-led handover at the listed company.