Deepinder Goyal has stepped away from the Group CEO role at Eternal, citing the need for sharper focus at the listed company while he explores new, higher-risk ideas outside the group. Subject to shareholder approval, Goyal will remain on Eternal’s board as Vice Chairman, while Albinder Dhindsa takes charge as the new Group CEO.
In a detailed note to shareholders, Goyal said he has recently been drawn towards ideas that involve “significantly higher-risk exploration and experimentation.” According to him, these initiatives are better pursued outside a public company like Eternal, which operates under stricter expectations, regulatory scrutiny, and the need for singular leadership focus. He added that if these ideas were aligned with Eternal’s strategic scope, they would have been pursued within the company, but they are not.
Goyal emphasized that the role of a public company CEO in India demands complete and undivided attention. While he believes he has the personal bandwidth to manage Eternal alongside external experimentation, the legal and governance expectations of a listed entity make such a split focus impractical. The transition, he said, allows Eternal to remain disciplined and sharply focused on growth areas relevant to its existing businesses.
As part of the leadership change, all of Goyal’s unvested ESOPs will revert to the company’s ESOP pool. He noted that this move strengthens long-term employee retention and creates wealth-creation opportunities for the next generation of leaders, without adding incremental dilution for shareholders. Goyal also clarified that his financial future remains closely tied to Eternal and aligned with long-term shareholder value creation.
Operationally, the centre of gravity now shifts to Dhindsa, who will own day-to-day execution, operating priorities, and business decisions as Group CEO. Goyal highlighted Dhindsa’s role in building Blinkit from acquisition to breakeven, calling him a battle-hardened founder with strong execution capabilities. While stepping back from daily operations, Goyal said he will continue contributing to Eternal’s long-term strategy, culture, leadership development, and governance from the board level.
