Eternal Limited (formerly Zomato Limited) has announced the resignation of Deepinder Goyal the company’s managing director and chief executive officer (MD & CEO), effective the close of business hours on February 1, 2026. The board of directors has appointed Albinder Singh Dhindsa, currently the CEO of Blinkit, as the new chief executive officer and key managerial personnel, effective February 1, 2026.

Goyal, who has spent 18 years building the food-tech giant, will not be leaving the boardroom entirely. The board has recommended his appointment as the vice chairman and director, subject to shareholder approval.

Letter to shareholders

Deepinder Goyal has penned a candid letter to shareholders explaining that his decision stems from a desire to pursue "significantly higher-risk exploration and experimentation" that he feels is better suited outside the constraints of a public company.

"The expectations, legal and otherwise, of a public company CEO in India demand singular focus," Goyal wrote, adding that this transition allows Eternal to remain disciplined while giving him the space to explore ideas that do not fit the company’s risk profile.

Blinkit's rise

Albinder Dhindsa’s elevation to Group CEO reflects the growing importance of the quick commerce vertical within the Eternal ecosystem. Goyal strongly endorsed Dhindsa, citing his success in guiding Blinkit from acquisition to breakeven. "He has the DNA of a battle-hardened founder and his ability to execute far exceeds mine," Goyal stated, adding that the "centre of gravity for operating decisions" will now move to Dhindsa.

Rise of Eternal

Deepinder Goyal's resignation, and the leadership change marks a pivotal moment for Zomato, a company that began 18 years ago as a simple menu-scanning service. Under Goyal’s leadership, the startup scaled into a multi-billion dollar conglomerate, recently rebranding as Eternal Limited to include its diverse business lines, such as food delivery, quick commerce, and the newly acquired movie and events ticketing businesses.

Goyal announced that all his unvested ESOPs will revert to the company pool to support the next generation of leaders without diluting shareholder equity.

"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," Goyal said.

"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. This is a change in title, not in commitment towards outcomes. Eternal remains my life's work," he added.

The shares of Eternal Limited ended 4.92% higher at ₹282.80 on the national stock exchange on Wednesday. The company’s stock has risen close to 32% in the past one year, outperforming the benchmark Nifty 50 index which that risen close to 10% during the same period.