New Delhi, Jan. 21 -- Eternal, the parent entity of Blinkit and Zomato, on Wednesday said Deepinder Goyal will step down as its Group CEO and Managing Director with Blinkit CEO Albinder Dhindsa set to succeed him as Group CEO from February 1.
Goyal, in a letter to shareholders said he is stepping down from his current position to pursue new ideas that involve a "significantly higher-risk exploration" and will transition to the role of Vice Chairman.
Eternal informed exchanges that the appointment of Goyal as Vice Chairman & Director on the board will be effective upon shareholders' approval for a five-year term.
In the letter Goyal explained the reason behind his resignation saying of late he found himself "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," he said.
Goyal has been branching out and investing in other areas unrelated to the core business of Eternal, which owns Zomato and Blinkit. Last year, he announced that he would invest $25 million to expand his venture 'Continue Research' that aims to support research in health and longevity.
Published by HT Digital Content Services with permission from Millennium Post.