Winning Bizness Desk
Mumbai. Deepinder Goyal, founder of Zomato and parent entity Eternal, has decided to step down as group CEO, marking a major leadership transition at one of India’s largest consumer internet companies. Goyal, who became CEO in 2008 when the company was still called Foodiebay, will move into a vice chairman role from February 1, subject to shareholder approval. The company informed stock exchanges about the change on Wednesday, January 21, underlining that the shift is part of a planned leadership evolution rather than a sudden exit.
Reason behind stepping away from CEO role
Explaining his decision, Goyal said he wants to focus on new, high-risk ideas that demand constant experimentation and long-term thinking. According to him, such ventures are better pursued outside the boundaries of a publicly listed company like Eternal. While he is relinquishing day-to-day executive control, Goyal stressed that he remains deeply invested in the company’s long-term journey, culture and leadership grooming, after spending nearly 18 years building the business from scratch.
Vice chairman role and continued board presence
Although he is stepping aside as group CEO, Goyal will continue to be closely involved with Eternal at the board level. As vice chairman, he plans to contribute to long-term strategy, organisational culture and leadership development. He reiterated that his financial future remains closely tied to the company, signalling continuity and stability for investors despite the leadership reshuffle.
Why Albinder Dhindsa was chosen
Goyal expressed strong confidence in Albinder Dhindsa, crediting him for turning Blinkit around from losses into a growth-focused business. He described Dhindsa as a seasoned founder with exceptional execution skills, adding that these strengths make him well-suited to lead the group at this stage.
Key details about Albinder Dhindsa:
- Currently serves as CEO of Blinkit
- Previously led Zomato’s international expansion
- Holds a civil engineering degree from IIT Delhi
- Completed an MBA from Columbia University
- Known internally for sharp operational discipline
Investments beyond Eternal ecosystem
Outside Eternal, Goyal has been actively backing new-age sectors. Reports suggest he may personally invest around Rs 210 crore in space-tech firm Pixxel. He is also associated with ventures focused on longevity research under the brand Continue, and aviation startup LAT Aerospace. Recently, he was seen wearing a health-focused gadget called Temple during a podcast, reflecting his growing interest in health and bio-tracking technologies.
Impact on shareholders and company structure
Goyal has taken steps to ensure that the transition does not hurt shareholder interests. As part of the process, he has returned all his unvested ESOPs to the company’s ESOP pool. This move prevents equity dilution and opens up future wealth creation opportunities for upcoming leaders.
What this means going ahead:
- No dilution of existing shareholder stakes
- More ESOPs available for senior leadership talent
- Decentralised structure to remain unchanged
- Blinkit continues as a top group priority
Goyal also clarified that Eternal’s decentralised operating model will continue, with each business, including Zomato and Blinkit, enjoying full autonomy under their respective CEOs, even as Dhindsa takes charge at the group level.
