Deepinder Goyal, the founder and Group CEO of Eternal, which runs Zomato and Blinkit, in a letter to the shareholders announced that he is stepping away from the top executive role and handing over the reigns to Albinder Dhindsa.
- Goyal will move to the position of Vice Chairman
- He said the decision is driven by his growing interest in pursuing ideas that involve “significantly higher-risk exploration and experimentation.” He made it clear that these ideas do not fit within Eternal’s strategic or risk framework and are better explored outside a listed company.
- He added that while he has the personal bandwidth to do both, the expectations — legal and otherwise — of being a public company CEO in India demand complete and singular focus.
- Albinder is the original founder of Blinkit, the main growth engine for Eternal as of now. He is currently leading Blinkit and after this transition gets the whole group to look after.
- As part of the transition, all of Goyal’s unvested ESOPs will go back into the ESOP pool. This, he said, will help create wealth for the next generation of leaders without adding to shareholder dilution.
Attached herein is the copy of the letter Deepinder sent to the shareholders.
