New Delhi: Deepinder Goyal has stepped down as the Group Chief Executive Officer of Eternal Ltd. with immediate effect, marking a significant leadership transition at the company he founded 18 years ago. Subject to shareholder approval, Goyal will now assume the role of Vice Chairman, while Blinkit CEO Albinder Dhindsa will take over as the new Group CEO.
In a letter addressed to shareholders, Goyal said the decision was driven by his growing interest in exploring high-risk and experimental ideas that fall outside the strategic scope of a listed company like Eternal. He noted that while Eternal requires focus and discipline as a public company, these new ideas are better pursued independently.
Goyal clarified that if such ideas aligned with Eternal’s business direction, he would have developed them within the company. However, he emphasised that the responsibilities and regulatory expectations attached to the role of a public company CEO demand singular attention, making the transition necessary.
Despite stepping away from day-to-day operations, Goyal underlined that his long-term association with the company remains unchanged. He said he would continue to play an active role in shaping Eternal’s long-term strategy, organisational culture, leadership development, and governance. He described Eternal as his life’s work and reiterated his commitment to the company’s long-term vision.
With the leadership change, operational control will now rest with Albinder Dhindsa, popularly known as Albi. As Group CEO, Dhindsa will oversee daily execution, operating priorities, and business decisions across the group. Goyal expressed strong confidence in Dhindsa’s leadership, citing his role in turning Blinkit from an acquisition into a breakeven business. He credited Dhindsa with building Blinkit’s team, culture, supply chain, and operating framework, describing him as a battle-hardened founder with exceptional execution capabilities.
Blinkit will continue to be Eternal’s largest growth driver and will remain Dhindsa’s top priority. Goyal also confirmed that the company’s decentralised structure, where individual businesses operate under their own CEOs with full ownership, will remain intact.
Addressing concerns around alignment and incentives, Goyal said his financial future remains closely linked to Eternal. As part of the transition, all his unvested employee stock options will revert to the ESOP pool. He said this move would strengthen wealth-creation opportunities for future leaders while avoiding additional dilution for shareholders.
Reflecting on the company’s journey, Goyal recalled that Eternal began as a modest menu-scanning idea and has since grown into a platform serving millions of customers and supporting hundreds of thousands of livelihoods. He expressed confidence that the leadership change would reinforce the company’s institutional strength rather than disrupt its momentum.
Goyal reaffirmed his long-term ambitions for Eternal, stating that his goals of making it India’s most valuable company, serving a billion customers, and creating large-scale positive social impact remain unchanged. He concluded by saying the transition represents a change in title, not in commitment, and thanked shareholders for their continued trust.
