Deepinder Goyal has resigned as Group Chief Executive Officer of Eternal Ltd. with immediate effect. He will now take on the role of Vice Chairman, subject to shareholder approval. Goyal founded the company 18 years ago and described the move as a change in role, not in commitment.

Blinkit CEO Albinder Dhindsa, a long-time associate and close friend of Goyal, will succeed him as the new Group CEO.

Why Goyal decided to move aside

In a letter to shareholders, Goyal explained that he wants to explore new ideas that carry higher risk. He said these ideas do not fit within the structure of a public company.

“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 wrote.

He added that Eternal must stay focused and disciplined.
“If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not,” Goyal said.

He also pointed to the demands placed on public company CEOs in India. According to him, the role requires complete attention and leaves little room for outside experimentation.

What remains unchanged at Eternal

Goyal said his long-term association with the company will continue. He stressed that Eternal remains his life’s work.

“I have spent eighteen years, almost half my life, building this company. I will continue doing that,” he wrote.

He said he will stay involved in long-term strategy, company culture, leadership development, and governance. He also said his working relationship with Albinder Dhindsa and Akshant Goyal remains strong.

“Our partnership, shared context, and trust remain unchanged,” he noted.

What will change under the new CEO

With this transition, Albinder Dhindsa will take full control of daily operations. Goyal made it clear that operational authority will now rest with Dhindsa.

“The centre of gravity for operating decisions moves to Albi. As Group CEO, he will own day-to-day execution, operating priorities, and business decisions.”

Goyal praised Dhindsa’s execution skills and leadership. He highlighted Dhindsa’s role in turning Blinkit profitable after its acquisition.

“He built the team, the culture, the supply chain, the operating rhythm,” Goyal said, calling him a “battle-hardened founder.”

Blinkit stays a key growth engine

Goyal confirmed that Blinkit remains Eternal’s biggest growth opportunity. It will continue to be Dhindsa’s top focus.

He also said Eternal’s decentralized structure will stay intact. Each business will continue to run under its own CEO with full ownership and accountability.

ESOPs and shareholder alignment

Goyal said his financial future remains closely tied to Eternal. He emphasised that his interests are still aligned with long-term shareholder value.

As part of the transition, he announced that all his unvested ESOPs will return to the ESOP pool. He said this move will help reward future leaders and improve retention without increasing shareholder dilution.

Looking ahead

Reflecting on the company’s journey, Goyal said Eternal has already achieved what once seemed impossible. He expressed confidence that the leadership change will strengthen the company.

“I believe Eternal is not going to lose focus or momentum through this change,” he wrote.

He reaffirmed his long-term vision, saying his goals for Eternal remain unchanged.
“I want Eternal to become India’s most valuable company. I want us to serve a billion customers.”

He concluded by stressing that this is only a change in designation, not dedication.

“This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work.”