Deepinder Goyal steps down as Eternal CEO; Blinkit chief Albinder Dhindsa to take over

In an unexpected move, Eternal founder and Group CEO Deepinder Goyal has announced that he will step away from his executive role, with Albinder Dhindsa set to become the company’s new Group CEO, subject to shareholder approval. Goyal will continue on the board as Vice Chairman.

In a letter to shareholders, Goyal said the decision was driven by his desire to explore new ideas involving higher risk and experimentation, which he believes are better pursued outside a public company.

“Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation,” Goyal said, adding that these ideas “do not fit Eternal’s risk profile”.

Goyal said that while he has the personal bandwidth to continue running Eternal alongside pursuing new ventures, the expectations and legal responsibilities of being a public company CEO in India require singular focus.

“This transition allows Eternal to remain sharply focused, while giving me the space to explore ideas that do not fit Eternal’s strategic scope,” he said.

Albinder Dhindsa, who currently leads Blinkit, will take charge of day-to-day execution, operating priorities and business decisions across the group. Goyal described Dhindsa as a “battle-hardened founder” and credited him with steering Blinkit from acquisition to breakeven.

“Blinkit’s journey from acquisition to breakeven happened under his leadership,” Goyal wrote. “His ability to execute far exceeds mine.”

According to the letter, Blinkit will remain Eternal’s largest growth opportunity and Dhindsa’s top priority. The company’s decentralised structure—under which each business is run by its own CEO with full ownership—will remain unchanged.

Goyal said his own role would continue to focus on long-term strategy, culture, leadership development, and ethics and governance. “This is where I have increasingly focused lately anyway,” he noted.

As part of the transition, Goyal said all of his unvested ESOPs would revert to the company’s ESOP pool. He said the move was intended to strengthen long-term retention for future leaders without adding shareholder dilution.

“My financial future remains meaningfully tied to Eternal, and my incentives remain aligned with long-term shareholder value creation,” he said.

Looking ahead, Goyal said the leadership change would reinforce the company’s institutional strength rather than dilute focus. “This is a change in title, not in commitment towards outcomes,” he wrote. “Eternal remains my life’s work.”

Outside Eternal, Goyal has been backing and incubating multiple ventures in emerging technology and health. These include LAT Aerospace, which focuses on hydrogen-powered airships and aviation-related innovation.

He is also associated with Continue, a venture working on health tracking and mental wellness research, and Temple, a health-tech wearable start-up that measures cerebral blood flow.