Eternal formalises CEO change as Zomato founder Deepinder Goyal hands over reins to Dhindsa

Eternal Ltd, formerly Zomato Ltd, has formally confirmed that co-founder Deepinder Goyal has resigned as managing director, chief executive officer and director, completing a leadership transition announced last month. The company disclosed the development in a stock exchange filing on February 6, in line with SEBI’s listing requirements.

The resignation took effect from the close of business on February 1, 2026, according to the filing, which also enclosed Goyal’s signed resignation letter dated January 21. Moneycontrol had earlier reported that Goyal would step down from the Group CEO role, with Blinkit CEO Albinder Dhindsa named as his successor.

In his resignation letter, Goyal said he was stepping away not only from his executive positions but also from various board committees, signalling a full exit from day-to-day leadership responsibilities linked to the CEO and MD role. Dhindsa will now assume charge as Group CEO, overseeing operating priorities, execution and key business decisions across Eternal’s portfolio.

While leaving executive management, Goyal is expected to remain associated with the company in a non-executive capacity. In a letter addressed to shareholders, he said he would, subject to shareholder approval, continue on the board as vice chairman, focusing on long-term strategy, culture, leadership development, and governance rather than operational oversight.

The company also disclosed that all of Goyal’s unvested employee stock options will revert to the ESOP pool as part of the transition, a move it said would support future leadership incentives without additional dilution for shareholders.

Explaining his decision, Goyal noted that he has increasingly been drawn to exploring higher-risk ideas that are better pursued outside a listed company environment. He also pointed to the regulatory and execution demands of leading a public company in India, which require singular focus.

Eternal’s leadership change comes as the company continues to evolve beyond its original food delivery business. The group rebranded from Zomato to Eternal to reflect its broader structure spanning food delivery, quick commerce and B2B supply. Goyal described Blinkit as the company’s largest growth opportunity, highlighting its path from acquisition to breakeven under Dhindsa’s leadership.

The February 6 disclosure formalises the governance-led handover, positioning Dhindsa at the helm of Eternal’s next phase while Goyal steps back into a strategic, non-executive role.