Zomato CEO Deepinder Goyal Steps Down as Blinkit Chief Takes Over
▼ Summary
– Deepinder Goyal is stepping down as CEO of Zomato’s parent company Eternal, with Albinder Dhindsa, CEO of Blinkit, taking over the top role.
– Goyal will remain on Eternal’s board as vice chairman to focus on higher-risk exploration and experimentation outside the listed company’s constraints.
– Zomato, co-founded by Goyal in 2008, evolved from a restaurant discovery platform into food delivery and grew through major acquisitions like Uber Eats India and Blinkit.
– Eternal reported strong quarterly financial results, with Blinkit being its fastest-growing business, showing a significant shift toward quick commerce.
– The leadership change highlights Blinkit’s rising influence as India’s quick-commerce sector booms, despite facing increased regulatory scrutiny over gig worker conditions.
A significant leadership transition is underway at one of India’s most prominent food delivery and quick-commerce companies. Deepinder Goyal, the co-founder and CEO of Zomato and its parent entity Eternal, is stepping down from his executive role. He will be succeeded by Albinder Dhindsa, the current chief executive of the quick-commerce division Blinkit. Goyal clarified that this move represents a shift in his focus rather than a reduction in his involvement. He will remain on Eternal’s board as vice chairman, dedicating his efforts to what he describes as “higher-risk exploration and experimentation.” These are pursuits he believes are more challenging to undertake within the structured environment of a publicly listed company.
In a communication to shareholders, Goyal emphasized his enduring commitment, stating, “This is a change in title, not in commitment toward outcomes. Eternal remains my life’s work.” His journey with the company began in 2008 when he and Pankaj Chaddah launched FoodieBay, a restaurant discovery platform, while both were employed at Bain & Company. The venture was rebranded to Zomato in 2010 following a naming conflict and later expanded into the competitive food delivery space in 2015. Following Chaddah’s departure in 2018, Zomato strengthened its market position through strategic acquisitions, including Uber Eats’ India operations in 2020 and Blinkit for $568 million in 2022.
This executive change coincides with a period of robust financial performance for the company. Eternal’s latest quarterly report shows a profit surge of approximately 73% year-over-year, reaching ₹1.02 billion. Adjusted revenue saw an even more dramatic increase of 190%. Notably, Blinkit has emerged as the fastest-growing segment within the portfolio, with its net order value skyrocketing by 121% in the last quarter. This explosive growth underscores the shifting dynamics within the Indian consumer market, where demand for ultra-fast delivery of groceries and essentials is accelerating rapidly.
The promotion of Blinkit’s leader to the top position at the parent company is widely seen as a strategic reflection of this trend. The handover signals Blinkit’s rising influence inside Eternal, as corporate growth increasingly skews toward quick commerce and away from its traditional food delivery mainstay. This sector, however, is not without its challenges. India’s quick-commerce industry is experiencing a boom while simultaneously facing increased scrutiny over the working conditions of its vast gig workforce. In response to these concerns, the country’s labor ministry has recently advised platforms to abandon aggressive “10-minute delivery” marketing promises and to implement concrete measures aimed at improving conditions for delivery personnel.
Outside of his corporate responsibilities, Goyal has been actively involved in several other ventures. These include a longevity-focused research initiative and an experimental brain-health wearable project. He also co-founded an aviation startup and maintains a portfolio of angel investments. His transition allows him to dedicate more energy to these exploratory projects while entrusting the day-to-day leadership of Eternal to Albinder Dhindsa, who now steers the company through its next phase of growth.
(Source: TechCrunch)
