Deepinder Goyal Steps Back From The Corner Office As Eternal Enters A New Phase

Deepinder Goyal has announced that he will step down as Group CEO and Managing Director of Eternal Ltd effective February 1, 2026. The move marks the end of an 18 year run at the top of the company that began as Foodiebay and later became one of India’s most influential internet businesses.

The announcement has triggered strong reactions across the startup ecosystem and social media. Supporters see it as a planned and mature transition, while critics link the timing to unresolved tensions around gig work and public scrutiny.

Key takeaways

• Deepinder Goyal will move from Group CEO to Vice Chairman of Eternal Ltd from February 1, 2026
• Blinkit CEO Albinder Dhindsa will take over as the new Group CEO
• Goyal says the shift allows him to explore higher risk ideas outside a listed company structure
• Eternal is entering the transition during a phase of strong revenue and profit growth
• Public opinion is sharply divided between admiration and criticism

The leadership change places operational control in the hands of Albinder Dhindsa, who has led Blinkit through rapid scale and a path toward adjusted EBITDA profitability. Goyal will remain on the board and continue to influence long term strategy, culture, and governance.

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Why Deepinder Goyal Decided To Step Down Now?

In his message to shareholders, Deepinder Goyal described the decision as deliberate rather than reactive. He said running a listed public company demands constant focus and limited risk appetite. According to him, that structure no longer suits the kind of exploration he wants to pursue at this stage.

He explained that Eternal has reached a level of institutional maturity where execution matters more than founder control. By handing over day to day leadership to a battle tested operator, he believes the group can scale faster and more predictably.

Goyal also clarified that his financial incentives remain aligned with the company. He has surrendered unvested ESOPs to avoid dilution and stated that his role as Vice Chairman is designed to protect long term value rather than short term optics.

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Albinder Dhindsa and the execution led model

Albinder Dhindsa takes over as Group CEO at a time when Blinkit has become Eternal’s largest growth engine. Under his leadership, the quick commerce business expanded aggressively while improving unit economics.

Goyal openly acknowledged that Dhindsa’s execution ability exceeds his own in the current phase of the business. Blinkit’s progress toward profitability is often cited internally as proof that the model works when discipline is applied at scale.

The appointment signals that Eternal sees quick commerce as central to its future. Food delivery remains core, but instant delivery has reshaped consumer behavior in urban India and now drives a significant share of revenue growth.

Eternal’s financial position at the time of transition

The timing of the leadership shift stands out because it comes during strong financial performance. Over recent quarters, Eternal has reported sharp year on year revenue growth and a surge in consolidated profits.

The company has also entered major market indices, reflecting its growing weight in Indian public markets. For many investors, this strengthens the argument that the transition was planned at a position of strength rather than forced by stress.

Supporters point out that founders often struggle to step aside even when systems are ready. In this case, the move is seen as an attempt to future proof leadership before stagnation sets in.

Public admiration for the founder journey

A large section of startup founders, investors, and operators have praised Deepinder Goyal’s decision. Many describe it as a rare example of founder maturity in India’s tech ecosystem.

Goyal’s journey from Foodiebay to building a company valued at over ₹2.35 lakh crore is often cited as a defining startup story. The platform created large scale employment, shaped urban food habits, and pushed logistics innovation.

Some posts compare Albinder Dhindsa’s role to that of a professional scale leader, similar to how global tech companies separate vision from execution. In this framing, Goyal’s step back is not an exit but an evolution.

Criticism linked to gig economy tensions

At the same time, criticism has been loud and persistent. Gig economy advocates argue that the announcement comes too close to recent delivery partner protests and public backlash.

Goyal’s earlier comments defending the gig model, including references to averages and calling strikes a disruption by a few, angered many workers and observers. Critics say these responses reflected corporate detachment from ground realities.

For this group, the step down is viewed less as vision and more as damage control. Some posts describe it as overdue and argue that leadership accountability should extend beyond financial metrics.

Questions around high risk personal projects

Another area of debate is Goyal’s stated intention to focus on high risk experimentation. Projects like Temple, a brain health wearable based on his Gravity Ageing Hypothesis, have drawn curiosity as well as skepticism.

Medical professionals and influencers have cautioned against hype, noting that no commercial validation exists yet. Goyal has also backed ventures such as LAT Aerospace, which aims to develop low cost regional aircraft.

Supporters see these bets as founder driven moonshots that require freedom from quarterly pressure. Critics see them as distractions that raise questions about priorities during a sensitive phase for the core business.

Snapshot of public sentiment as of January 21, 2026 ( Taken From X )

Segment	Dominant reaction	Key themes
Startup and investor circles	Largely positive	Founder maturity, strong succession, execution focus
Gig workers and labor advocates	Mixed to negative	Pay concerns, strikes, leadership accountability
General public	Polarized	Visionary move vs strategic retreat
Health and tech observers	Cautious	Unproven wearables, experimental science

The discussion is still evolving. Since the announcement is only hours old, narratives are forming in real time as more voices weigh in.

What this transition means for Eternal going forward

For Eternal, the immediate challenge is continuity. Albinder Dhindsa will need to balance aggressive expansion with cost control across food delivery and quick commerce.

The board structure now separates vision from execution more clearly. Goyal’s presence as Vice Chairman offers strategic oversight without daily intervention, which could reduce founder dependence over time.

Much will depend on how labor relations, regulatory pressure, and competitive intensity are handled in the coming quarters. Strong financials provide a buffer, but public trust remains fragile.

Deepinder Goyal’s legacy in transition

Whether viewed as visionary or controversial, Deepinder Goyal remains one of the most influential figures in Indian consumer tech. His decision to step back rather than hold on reshapes how founder leadership is discussed in the country.

The coming months will determine how Albinder Dhindsa’s leadership style reshapes Eternal’s culture and priorities. They will also reveal whether Goyal’s experimental pursuits deliver substance beyond ambition.

For now, the story reflects a broader shift in Indian startups from founder centric control to institution led scale, with all the tension and opportunity that comes with it.

Tags: Deepinder Goyal, Zomato, Eternal Ltd, Blinkit, Indian startups, Gig economy

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