Eternal Ltd. on announced a leadership transition at the top, with founder Deepinder Goyal stepping down as Group Chief Executive Officer, as per a regulatory filing on Wednesday. Albinder Dhindsa, currently leading Blinkit, will assume the role of Group CEO with immediate effect, the company said in a regulatory filing.
Why is Goyal stepping aside?
In a detailed letter addressed to shareholders, Goyal said his decision was driven by a growing interest in pursuing ideas that involve “higher-risk exploration and experimentation.” “Of late, I have found myself drawn to a set of new ideas that involve higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal,” Goyal said. “If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not. Eternal deserves to remain focused and disciplined, while exploring new areas of growth that are relevant to its current line of business.”
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Goyal added that while he has the capacity to continue his work at Eternal alongside exploring new ventures, the legal and governance expectations placed on a public company CEO in India require undivided attention. The transition, he said, allows the company to stay sharply focused while giving him the space to explore initiatives beyond Eternal’s risk profile.
What stays the same
Despite stepping away from the CEO role, Goyal emphasised that his association with the company remains intact. Subject to shareholder approval, he will continue on the board as Vice Chairman. His involvement in long-term strategy, company culture, leadership development, and ethics and governance will also continue.
He underscored that his financial interests remain closely tied to Eternal and aligned with long-term shareholder value. As part of the transition, all his unvested ESOPs will return to the ESOP pool, a move aimed at strengthening leadership retention without additional shareholder dilution.
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Albinder Dhindsa takes over operations
As Group CEO, Dhindsa will now be responsible for day-to-day execution, operating priorities, and key business decisions. Goyal highlighted Dhindsa’s role in Blinkit’s journey from acquisition to breakeven, crediting him with building its team, supply chain, and operating rhythm. Blinkit, he noted, remains Eternal’s largest growth opportunity and will continue to be Dhindsa’s top priority.
Reflecting on the company’s 18-year journey, Goyal said the leadership change is about strengthening Eternal as an institution, not altering its ambitions. He reiterated the company’s long-term goals, including serving a billion customers, creating livelihoods at scale, and building lasting societal impact, adding that the change represents “a shift in title, not in commitment.”
