Deepinder Goyal to Exit Executive Role at Zomato, Hands Over CEO Baton to Blinkit Head Albinder Dhindsa
Deepinder Goyal to Exit Executive Role at Zomato, Hands Over CEO Baton to Blinkit Head Albinder Dhindsa
Deepinder Goyal, the founder and long-time face of Zomato and its parent company Eternal, has announced a major leadership transition that marks the end of an era and the beginning of a new chapter for the group. Goyal will step down from his role as Group Chief Executive Officer of Eternal, effective February 1, 2026. Taking over the reins will be Albinder Singh Dhindsa, the current CEO of Blinkit, who will become the new Group CEO.
While Goyal is relinquishing his executive responsibilities, he is not stepping away from the company he built. Subject to shareholder approval, he will continue to remain closely associated with Eternal as a Non-Executive Director and Vice Chairman of the Board. The development was officially disclosed by the company in its regulatory filing titled “Q3FY26 Shareholders’ Letter and Results.”
According to the filing, Goyal has formally tendered his resignation as Director, Managing Director, and Chief Executive Officer, effective at the close of business on February 1, 2026. On the same date, Dhindsa’s appointment as CEO will come into effect. The Board has also recommended Goyal’s appointment as Vice Chairman, pending approval from shareholders.
Why Deepinder Goyal Is Stepping Aside
In a detailed and personal letter addressed to shareholders, Goyal explained the thinking behind his decision. He revealed that over time, he has increasingly felt drawn toward exploring new ideas that involve a much higher degree of risk and experimentation.
“These are the kinds of ideas that are better pursued outside a public company like Eternal,” Goyal wrote. He clarified that if such ideas were aligned with Eternal’s strategic direction, he would have explored them within the company itself. However, he believes they fall outside Eternal’s current risk appetite and long-term focus.
Goyal stressed that Eternal, as a listed company, must remain disciplined and sharply focused on growth opportunities that are directly relevant to its existing businesses. While he believes he personally has the capacity to manage his responsibilities at Eternal alongside pursuing external ideas, he acknowledged that the role of a public company CEO in India comes with legal, regulatory, and ethical expectations that demand complete and undivided attention.
“This transition allows Eternal to remain sharply focused, while giving me the space to explore ideas that do not fit Eternal’s risk profile,” he said.
What Remains the Same
Despite stepping down as CEO, Goyal made it clear that his emotional and long-term commitment to Eternal is unchanged. Having spent 18 years—nearly half his life—building the company, he said he will continue to do so in a different capacity.
He emphasised that his close working relationship with Albinder Dhindsa and Zomato CFO Akshant Goyal will continue as before. The partnership, shared understanding, and trust among the leadership team remain intact. Importantly, Goyal confirmed that the company’s decentralised structure will stay the same, with individual business CEOs continuing to enjoy full autonomy in running their operations.
Goyal also noted that his involvement in shaping Eternal’s long-term strategy, organisational culture, leadership development, and ethics and governance will continue. These, he said, are areas where his focus has increasingly shifted in recent times.
What Will Change Going Forward
With the leadership transition, the centre of gravity for day-to-day operations will move to Albinder Dhindsa. As Group CEO, Dhindsa will be responsible for execution, operational priorities, and key business decisions across the group.
Goyal spoke highly of Dhindsa’s leadership, particularly highlighting his role in Blinkit’s transformation. Under Dhindsa, Blinkit evolved from an acquisition into a business that achieved breakeven, supported by a strong team, efficient supply chain, and a disciplined operating model.
Calling Blinkit Eternal’s largest growth opportunity, Goyal said Dhindsa brings the mindset of a battle-hardened founder and possesses execution capabilities that surpass his own. “He is more than capable of leading Eternal as Group CEO,” Goyal wrote.
Blinkit will remain Dhindsa’s top priority even as he takes on the broader group role, and the company’s decentralised leadership model will help him manage this transition effectively.
Alignment With Shareholders and ESOP Changes
Addressing concerns around alignment and incentives, Goyal assured shareholders that his financial future remains closely tied to Eternal’s long-term success. His incentives, he said, continue to be aligned with shareholder value creation.
As part of the transition, all of Goyal’s unvested ESOPs will be returned to the company’s ESOP pool. This move is intended to strengthen wealth-creation opportunities for the next generation of leaders at Eternal, improve long-term retention, and do so without adding incremental dilution for existing shareholders.
Reflecting on Eternal’s journey, Goyal recalled how improbable it once seemed that a simple menu-scanning idea could grow into a company worth tens of billions of dollars, support hundreds of thousands of livelihoods, and serve millions of families every day. Yet, he said, Eternal helped prove that vision possible—and believes the company’s best years are still ahead.
Goyal expressed confidence that the leadership change will not disrupt Eternal’s momentum. Instead, he sees it as a step that strengthens the company institutionally while giving him the flexibility to explore bold ideas independently.
He reiterated his long-term aspirations for Eternal: to become India’s most valuable company, serve a billion customers, create widespread positive social impact, and generate livelihoods for millions of Indians. “This is a change in title, not in commitment towards outcomes,” he wrote, adding that Eternal remains his life’s work.
The transition, according to Goyal, is designed to balance focus with ambition—ensuring Eternal stays disciplined and growth-oriented, while he embarks on a new phase of exploration without compromising the company’s priorities.
