Deepinder Goyal Resigns: Deepinder steps down as Eternal CEO to pursue high-risk ideas outside the company; Blinkit co-founder Albinder Dhindsa takes over immediately.
In a detailed letter to shareholders, Goyal made it clear that the decision was driven by personal and strategic considerations rather than any loss of confidence in Eternal’s future. He said the company needs disciplined leadership at a time when it continues to scale, while he wants the freedom to pursue higher-risk ideas independently.
Explaining his decision, Goyal told shareholders, “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.”
He added that if these ideas aligned with Eternal’s strategy, he would have pursued them internally. “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.”
Goyal also pointed to the demands placed on the CEO of a publicly listed company in India, saying they require “singular focus,” which made the transition necessary.
Albinder Dhindsa, co-founder and CEO of Blinkit, now takes over as Eternal’s group CEO. Goyal praised Dhindsa’s execution skills and leadership record, especially Blinkit’s turnaround journey.
“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,” Goyal wrote.
Blinkit will remain Eternal’s largest growth engine and continue to be Dhindsa’s top priority even as he assumes broader responsibilities.
Despite stepping down as CEO, Goyal is not exiting the company. Subject to shareholder approval, he will stay on the board as vice chairman and continue to play a key role in long-term strategy, culture, leadership development, and governance.
“This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work,” he said, emphasising continuity in vision and values.
The company’s decentralised structure, where each business runs with significant autonomy under its own CEO, will also remain unchanged.
As part of the transition, Goyal said all his unvested ESOPs will return to the ESOP pool. This move aims to strengthen long-term retention for future leaders without adding shareholder dilution. He stressed that his financial future remains closely tied to Eternal’s long-term success.
Looking ahead, Goyal reiterated his ambition: to make Eternal one of India’s most valuable companies, serve a billion customers, and create large-scale social and economic impact.
The transition signals Eternal’s push to institutionalise leadership while allowing its founder to innovate beyond the company’s current risk profile. With Dhindsa taking charge of daily execution and Goyal remaining deeply involved in strategy, the company aims to balance continuity with sharper operational focus.
