Eternal's Deepinder Goyal to step down as Group CEO

Deepinder Goyal to step down as Group CEO of Eternal, he confirmed in a letter to shareholders, adding that he will remain on the board as Vice Chairman, subject to shareholder approval.

In the letter, Goyal said Albinder Dhindsa will take over as the new Group CEO of Eternal.

“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,” Goyal wrote.

Explaining the decision, Goyal said he has recently been drawn to exploring higher-risk ideas that are better pursued outside a public company. “These are the kinds of ideas that are better pursued outside a public company like Eternal,” he said, adding that the company should remain “focused and disciplined” within its existing business scope.

Goyal said the expectations and legal responsibilities of leading a listed company in India require “singular focus,” making it difficult to balance both roles. He described the transition as allowing the company to stay focused while giving him space to explore ideas that fall outside Eternal’s risk profile.

He said his long-term involvement with the company will continue. “I have spent eighteen years, almost half my life, building this company. I will continue doing that,” Goyal wrote. He added that his role in long-term strategy, culture, leadership development, and governance will remain unchanged.

Operational control will now rest with Dhindsa. “The centre of gravity for operating decisions moves to Albi,” Goyal said, noting that Dhindsa will oversee day-to-day execution, operating priorities, and business decisions.

Goyal highlighted Dhindsa’s role in building Blinkit, calling it the company’s largest growth opportunity and saying it will remain Dhindsa’s top priority. He added that Eternal’s decentralised structure, where each business operates under its own CEO, will continue.

On compensation, Goyal said his financial interests remain aligned with the company. As part of the transition, all his unvested employee stock options will revert to the ESOP pool. “This ensures that Eternal continues to have meaningful wealth-creation opportunities for its next generation of leaders,” he wrote.

Looking ahead, Goyal said the leadership change would not affect the company’s long-term goals. “This is a change in title, not in commitment towards outcomes,” he wrote, adding, “Eternal remains my life's work.”