Deepinder Goyal steps down as Eternal CEO, moves to vice chairman role

Deepinder Goyal, the founder of Zomato , has resigned as Group CEO of Eternal and will move to the role of Vice Chairman on the board, subject to shareholder approval. The leadership change marks a rare transition in India’s startup ecosystem, as the founder steps away from daily operations while remaining closely involved in the company’s long-term strategy and governance.

Goyal’s journey began nearly two decades ago with a simple question: Can technology make food discovery easier for people? In the early 2000s, Zomato was born as a menu-scanning platform, a humble tool that helped users find restaurant menus online. Back then, the idea seemed small, even niche. But Goyal saw something bigger, a chance to redefine how Indians ordered food, discovered restaurants, and experienced dining. Under his leadership, Zomato evolved from a menu database into a full-fledged food delivery, restaurant discovery, and tech platform serving millions across India and beyond.

Over the years, Zomato expanded into new verticals, weathered intense competition, and adapted to changing consumer habits. It became synonymous with food delivery in India, creating an ecosystem that supported restaurants, delivery partners, and customers alike. Goyal’s leadership style was often described as intense, ambitious, and uncompromising. He built a culture that valued speed, experimentation, and resilience, traits that helped Zomato survive multiple industry shakeups. Under his watch, Zomato grew not just in size but in influence. It became a household name, a company that changed how Indians eat, order, and even talk about food.

Zomato’s IPO in 2021 was a milestone, not just for the company but for India’s startup ecosystem. The public listing brought new scrutiny, governance expectations, and operational pressures. As a public company, Eternal needed a leadership approach that balanced innovation with compliance, discipline, and sustained execution. Goyal’s decision to step down from the CEO role reflects that reality. In his letter to shareholders, he said he was drawn to “high-risk exploration and experimentation,” and that such ideas are better pursued outside the structure of a public company. He explained that the demands of leading a public entity require singular focus, a focus that is essential for consistent execution and for meeting the expectations of shareholders and regulators.

Taking over the CEO role is Albinder Dhindsa , the executive who previously led Blinkit through its acquisition and breakeven phase. Goyal described Dhindsa as a “battle-hardened founder,” whose execution abilities surpass his own. Dhindsa is expected to lead the company’s day-to-day operations and sharpen its execution focus, particularly as Zomato and its related businesses enter a more mature phase of growth.

Despite stepping down as CEO, Goyal is not stepping away from Eternal. He will transition to the role of Vice Chairman, subject to shareholder approval, and will continue to influence the company’s long-term strategy, culture, leadership development, and governance. He also emphasized that his financial future remains tied to the company. Goyal’s unvested ESOPs will revert to the company’s ESOP pool to support future leaders, a move that signals his long-term commitment to building a strong leadership bench.

Looking back on the company’s journey, Goyal reflected on how a menu-scanning platform grew into a company that provides livelihoods to hundreds of thousands of people. From restaurant owners to delivery partners, from employees to millions of users, Zomato became an ecosystem that reshaped India’s food industry. “This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work,” Goyal said.

For many, the transition marks the end of an era — the era of a founder-led, high-speed growth story that reshaped an industry. But it also signals a new chapter: a phase where execution, discipline, and sustained growth will define the company’s future. As Goyal explores new ideas and higher-risk ventures, the company he built will move forward under new leadership — while still carrying the imprint of its founder’s vision.