New Delhi, Jan 21 : Eternal on Wednesday said Deepinder Goyal will step down as Group CEO and Managing Director with Blinkit CEO Albinder Dhindsa set to succeed him as Group CEO from February 1.
In a letter to shareholders, Goyal said he is stepping down from his current position to pursue new ideas and 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 him stepping down as the Group CEO and MD.
“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 stated.
He further said the transition allows Eternal to remain sharply focused, while giving him the space to explore ideas that do not fit Eternal’s risk profile.
“The centre of gravity for operating decisions moves to Albi. As Group CEO, he will own day-to-day execution, operating priorities, and business decisions. Blinkit’s journey from acquisition to break-even happened under his leadership,” Goyal said. (PTI)
