Deepinder Goyal, founder and Group CEO of Eternal, will be stepping down from his position, and Blinkit’s CEO Albinder Dhindsa will take over, the company informed the exchanges on January 21.
In a letter addressed to shareholders, Goyal announced that he will move away from the Group CEO role and, subject to shareholders’ approval, continue on the company’s board as Vice Chairman.
“Today, I am going to step away from the Group CEO role and, subject to shareholders’ approval, will remain on the board of directors as Vice Chairman. Albinder Dhindsa (Albi) will be Eternal’s new Group CEO,” Goyal said in his letter to shareholders.
Why this change
Explaining the reason behind the leadership move, Goyal said he has recently been drawn to exploring ideas that are higher-risk in nature and are better pursued outside the scope of a public company.
This decision comes as Goyal explores different ideas. “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,” he said in his letter.
He further clarified that these ideas do not fit within Eternal’s strategic direction: “If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not.”
Blinkit’s Dhindsa to lead Eternal as Group CEO
Goyal, in his statement, credited Dhindsa for building Blinkit’s growth journey and expressed confidence in his ability to lead the company forward.
“Blinkit’s journey from acquisition to breakeven happened under his leadership. He built the team, the culture, the supply chain, the operating rhythm. He 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,” he said.
Goyal also underlined that Blinkit will remain the company’s biggest growth lever going ahead: “Blinkit remains our largest growth opportunity and will remain as Albi’s top priority. Our decentralized structure, where each business has a CEO with full ownership, continues unchanged – and will help Albi execute this well.”
‘This is a change in title, not in commitment.’
While stepping away from the day-to-day role, Goyal said his long-term involvement with the company will continue, and the transition is aimed at strengthening Eternal’s institutional leadership.
“I believe Eternal is not going to lose focus or momentum through this change. Rather, it is reinforcing its institutional strength. And personally, I gain the flexibility to explore ideas that sit outside Eternal’s scope, without compromising the company’s priorities,” he stated.
Sharing his long-term vision for the company, Goyal said the core ambition remains unchanged: “I want Eternal to become India’s most valuable company. I want us to serve a billion customers. I want us to create the most positive impact on society. I want us to be the source of livelihoods for millions of Indians. None of that changes.”
He also reiterated that his association with the company continues beyond the leadership reshuffle: “This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work.”
ESOPs and alignment with shareholders
In his message, Goyal also spoke about alignment with shareholder value and confirmed changes to his unvested ESOPs as part of the transition: “My financial future remains meaningfully tied to Eternal, and my incentives remain aligned with long-term shareholder value creation. As part of this transition, all of my unvested ESOPs will revert to the ESOP pool. This ensures that Eternal continues to have meaningful wealth-creation opportunities for its next generation of leaders, while strengthening long-term retention without incremental shareholder dilution.”
The leadership transition marks a key shift for Eternal as it enters its next phase of growth under Dhindsa, while Goyal continues to remain associated with the company in a board-level role.
