Kamal Ghorui
Zomato’s parent company, Eternal Ltd., sent ripples through India’s startup and tech circles on January 21, 2026, when founder Deepinder Goyal announced he would step down as Group CEO and Managing Director of Eternal. From February 1, the reins will pass to Blinkit chief Albinder Singh Dhindsa – marking a major leadership shift at the holding company that controls both Zomato and Blinkit.But unlike many headline-making exits driven by pressure, losses or boardroom drama, Goyal’s move comes with a very different story.
What Deepinder Goyal wrote in his letter
In a candid letter to shareholders, the founder made it clear this was not about fatigue or fallout. Over the past few months, he wrote, he has felt increasingly pulled towards new ideas, the kind that are risky, experimental and uncertain. These, he believes, are difficult to pursue while running a large, publicly listed company with constant scrutiny on quarterly numbers and execution.
Leading Eternal, Goyal explained, now requires intense operational focus, discipline and predictability. While the company continues to perform strongly, the CEO role leaves little room for the kind of unconventional exploration that first drew him to entrepreneurship. Those ambitions, he feels, are better chased outside the day-to-day responsibilities of a listed enterprise.Rather than cutting ties, Goyal will transition into the role of Vice Chairman, subject to shareholder approval. He will continue to help shape Eternal’s long-term direction, but will step away from daily operations, execution and business decisions.
Meet the new CEO
Stepping into the top role is Albinder Singh Dhindsa, founder and CEO of Blinkit, who has emerged as one of the group’s strongest operators. Under his leadership, Blinkit moved from a risky acquisition to breakeven and became one of Eternal’s fastest-growing verticals. Goyal himself said this journey convinced him that Dhindsa is well-equipped to lead the group forward.
As part of the handover, all of Goyal’s unvested stock options will return to the company’s employee stock option pool – signalling a clean, structured and transparent transition.The timing makes the move even more striking. Eternal has just reported a sharp jump in quarterly profits, driven largely by the boom in quick commerce. In other words, this is not a founder leaving in crisis, but one choosing to step aside at a moment of strength.
The switch
Goyal’s journey began in 2008, when he co-founded what was then Foodiebay with Pankaj Chaddah, a simple platform listing restaurant menus and reviews. Over time, it grew into Zomato, one of India’s biggest food delivery brands, and later expanded into quick commerce through Blinkit. Eternal was eventually formed as the parent holding company overseeing these businesses.Now, after nearly two decades at the helm, Goyal seems ready for a new chapter — one that favours experimentation, bold bets and uncertainty over board meetings and earnings calls.In the end, this is less a resignation and more a reinvention: a founder stepping back from the corner office, trusting a successor with execution, and quietly preparing for whatever ambitious idea comes next.
