New Delhi: After nearly two decades at the helm, Deepinder Goyal has decided to step aside as Group CEO of Eternal Ltd. From February 1, 2026, Albinder Singh Dhindsa, currently CEO of Blinkit, will take charge, subject to shareholder approval.
Goyal is not leaving the company. Instead, he will move into the role of Vice Chairman and Director, staying involved in shaping Eternal’s long-term direction.
Why Goyal decided to step back
In a note to shareholders, Goyal explained his thinking in plain terms.
He said he wants to spend time working on ideas that carry a higher risk and longer timelines. Those ideas, he admitted, are difficult to pursue inside a publicly listed company that needs predictable growth and constant regulatory focus.
Running a listed firm in India, he added, demands full attention. Trying to balance that responsibility with experimentation has become harder over time.
What stays unchanged
Even with the title change, Goyal made one thing clear. He is not walking away. Instead, he will continue to work closely with Dhindsa and the leadership team. Going forward, his attention will shift to big-picture areas such as strategy, governance, leadership development, and company culture.
At the same time, Eternal’s decentralised setup will remain intact. As before, business heads will continue to run their units with the same level of independence.
Why Albinder Dhindsa gets the role
With this shift, day-to-day control moves to Dhindsa.
As Group CEO, he will oversee operations, drive execution and take responsibility for key decisions across Eternal. To explain the choice, Goyal pointed to Dhindsa’s record at Blinkit as evidence of his ability to scale and deliver.
During his tenure there, Blinkit moved from acquisition to breakeven. Along the way, he built strong teams, tightened the supply chain and put systems in place for long-term growth.
In Goyal’s view, Dhindsa combines a founder’s mindset with the discipline required to run large, complex businesses.
Blinkit remains central
Blinkit will continue to be Eternal’s biggest growth engine. Dhindsa will maintain it as his primary focus, even as he assumes the broader Group CEO role.
The leadership believes this continuity will help maintain momentum rather than disrupt it.
Returning ESOPs to the company
Alongside the leadership change, Goyal announced another step. He will return his unvested ESOPs to Eternal’s ESOP pool.
The reasoning is straightforward. The move frees up stock for future leaders and supports long-term retention, without adding pressure on shareholders.
At the same time, Goyal made it clear that his own financial future remains closely tied to Eternal’s long-term performance.
What this means going forward
Goyal does not see this as an exit. He sees it as a reset.
“This is a title change, not in commitment,” he said, calling Eternal his life’s work.
For the company, the shift opens a new chapter with operational leadership in fresh hands. For Goyal, it creates room to explore ideas beyond the limits of a public company—while staying closely connected to the business he built.
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