Deepinder Goyal Steps Down as Eternal CEO, Blinkit Head Albinder Dhindsa Takes Charge
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In a major leadership transition, Deepinder Goyal has resigned as Group Chief Executive Officer of Eternal Ltd, according to a regulatory filing on Wednesday. Albinder Dhindsa, who currently leads quick-commerce arm Blinkit, will take over as the new Group CEO with immediate effect.
In a detailed letter to shareholders, Goyal said the decision was driven by his desire to explore higher-risk ideas that fall outside Eternal’s strategic and risk framework as a public company.
Why the Change Happened
Explaining his move, Goyal said he has recently been drawn to experimental and high-risk ideas that are better pursued outside a listed entity. He noted that while Eternal must remain disciplined and focused on growth areas aligned with its core business, the role of a public company CEO in India demands complete and singular attention.
As part of the transition, Goyal will remain associated with the company as Vice Chairman, subject to shareholder approval, and continue contributing to long-term strategy, leadership development, culture, and governance.
What Changes at Eternal
With Dhindsa stepping in as Group CEO, the centre of operational decision-making will shift to him. Goyal highlighted Dhindsa’s execution strength, pointing to Blinkit’s journey from acquisition to breakeven under his leadership. He credited Dhindsa with building Blinkit’s supply chain, operating rhythm, and team culture, calling him a “battle-hardened founder.”
Blinkit will remain Eternal’s largest growth opportunity and continue to be Dhindsa’s top priority, while the company’s decentralised structure — with individual business CEOs — remains unchanged.
Alignment With Shareholders
Goyal also announced that all his unvested ESOPs will return to the ESOP pool, strengthening long-term leadership retention without additional shareholder dilution. He emphasised that his financial future remains closely tied to Eternal’s long-term value creation.
Our Thoughts
This transition appears less like an exit and more like a structural evolution. By moving day-to-day execution to Albinder Dhindsa, Eternal is doubling down on operational rigour at a time when quick commerce and platform efficiency matter most. Goyal’s continued presence at the board level ensures strategic continuity, while freeing him to pursue innovation without burdening a public company. If executed well, this leadership reset could sharpen Eternal’s focus rather than dilute it — a rare but strategic shift in India’s startup-to-public-company journey.