MUMBAI — Eternal said on Wednesday that founder Deepinder Goyal has stepped down as Group Chief Executive Officer, transitioning to the role of Vice Chairman of the board, subject to shareholder approval.
According to a regulatory filing, Albinder Dhindsa will assume charge as the new Group CEO, overseeing the company’s day-to-day operations and execution priorities.
In a letter to shareholders, Goyal said his decision to relinquish executive responsibilities was driven by a growing desire to pursue high-risk experimentation and exploration, which he believes is better undertaken outside the structure of a publicly listed company.
“Recently, I have found myself increasingly drawn to ideas that require significantly higher-risk exploration,” Goyal said, adding that while such initiatives are personally compelling, they do not align with the disciplined risk framework expected of Eternal as a public entity.
He noted that leading a listed company in India comes with heightened legal, operational and governance demands that require undivided attention. “The role of a public company CEO demands singular focus,” he said, explaining that the leadership transition would allow Eternal to remain sharply focused while giving him the freedom to explore ideas that fall outside the company’s current strategic scope.
Dhindsa, who previously led Blinkit through its acquisition and journey to breakeven, will now take charge of execution across the group. Goyal credited Dhindsa with building Blinkit’s team, culture and supply chain, describing him as a “battle-hardened founder” with exceptional execution capabilities.
Goyal said Blinkit remains Eternal’s largest growth opportunity and will continue to be Dhindsa’s top operational priority.
Despite stepping away from the CEO role, Goyal said he will remain actively involved in shaping the company’s long-term strategy, culture, leadership development, and ethics and governance. He added that his financial future remains closely tied to Eternal, with incentives aligned to long-term shareholder value creation.
As part of the transition, Goyal’s unvested employee stock ownership plans will return to the company’s ESOP pool, a move aimed at supporting future leadership retention without additional dilution for shareholders.
Reflecting on the company’s 18-year journey, Goyal said Eternal had evolved from a menu-scanning startup into a large-scale enterprise supporting the livelihoods of hundreds of thousands.
“This is a change in title, not a change in commitment,” he said. “Eternal remains my life’s work. I want the company to become India’s most valuable business and serve a billion customers.”
Deepinder Goyal, founder of Eternal, steps down as Group CEO to become Vice Chairman, allowing him to pursue high-risk ventures outside the public company framework. Albinder Dhindsa, known for his leadership at Blinkit, will take over as CEO, focusing on operational priorities. Goyal remains committed to Eternal's long-term strategy and shareholder value.