Zomato’s Deepinder Goyal on Wednesday announced that he is stepping down from the role of Eternal Group Chief Executive Officer, effective February 1, according to a company filing.
In a letter to shareholders, Goyal said, “Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal.”
“Eternal deserves to remain focused and disciplined while exploring new areas of growth that are relevant to its current line of business. While I believe I personally have the bandwidth to continue what I am doing at Eternal and also explore new ideas outside of it, the expectations, legal and otherwise, of a public company CEO in India demand singular focus,” he added.
Goyal to remain on the Board
Goyal’s decision is subject to shareholders’ approval, and he will continue to remain on the board of directors as Vice Chairman.
“I have spent eighteen years, almost half my life, building this company. I will continue doing that… I will continue to work closely together, as we always have. Our partnership, shared context, and trust remain unchanged. All our business CEOs will continue operating with the autonomy they have always had,” Goyal said.
“My involvement in long-term strategy, culture, leadership development, and ethics and governance continues. This is where I have increasingly focused lately anyway,” he added.
Albinder Dhindsa to take charge
According to the filing, Albinder Dhindsa will take charge as Eternal’s new Group CEO. Dhindsa, founder and chief executive officer of Blinkit, will own day-to-day execution, operating priorities, and business decisions.
“Dhindsa has the DNA of a battle-hardened founder, and his ability to execute far exceeds mine. He is more than capable of leading Eternal as Group CEO. Blinkit remains our largest growth opportunity and will remain Albi’s top priority. Our decentralised structure, where each business has a CEO with full ownership, continues unchanged—and will help Albi execute this well,” Goyal said.
Before founding Blinkit, Dhindsa worked as the Head of International Expansion at Zomato, where he was responsible for the company’s global expansion mandate.
In 2013, Dhindsa co-founded Blinkit. He graduated with a Bachelor of Technology degree in Civil Engineering from IIT Delhi, followed by an MBA from Columbia University, New York.
He is often seen juggling a few books, enjoys playing basketball, listening to French music, and eating meals prepared by his mother.
Disclaimer: Moneywealth research provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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