Deepinder Goyal resigns as CEO of Zomato and Blinkit's parent Eternal, here's why

Deepinder Goyal has decided to step down as the group chief executive officer (CEO) of Eternal Ltd., according to a regulatory filing on Wednesday (January 21). Blinkit's head Albinder Dhindsa is set to succeed Goyal with immediate effect. Goyal will now take on the role of vice chairman, subject to shareholder approval.

What did Deepinder Goyal say?

In a letter to shareholders, Goyal said: "Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal. If these ideas belonged inside Eternal’s strategic scope, I would have pursued them within the company. They do not. Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant to its current line of business."

Goyal said the "centre of gravity for operating decisions moves to Albi (Albinder Dhindsa). As Group CEO, he will own day-to-day execution, operating priorities, and business decisions." Dhindsa currently leads the operations of the quick commerce platform Blinkit, which is also part of Eternal. "This transition allows Eternal to remain sharply focused, while giving me the space to explore ideas that do not fit Eternal’s risk profile," Goyal said.

What's next for Deepinder Goyal?

Lately, Goyal has been spending more time raising funds for his other ventures. In December, it was reported that Goyal was raising USD 50 million for Temple, his wearables startup, from early investors of Zomato. Goyal is also expected to lead a new funding in Pixxel, a space technology company, by investing around USD 25 million personally, Moneycontrol had reported earlier this month. Goyal also runs Continue, a longevity-focused research arm, as well as LAT Aerospace, an aviation firm for short-duration flights.