Eternal, the parent entity of Blinkit and Zomato, said Deepinder Goyal will step down as its Group CEO with Blinkit CEO Albinder Dhindsa set to succeed him from Feb 1. As the news made headlines, a podcast resurfaced where Goyal revealed that he had asked Dhindsa to, in fact, step down after Zomato's acquisition of his quick commerce platform.
In a podcast with Raj Shamani, Goyal spoke about asking Dhindsa to leave saying, "Right after we acquired Blinkit, I asked him to leave."
"You will not be able to cut it," Goyal had told Dhindsa, he mentioned. To which Dhindsa replied, "Okay. Makes sense. I will leave."
On asked why he asked Dhindsa to leave, Goyal said that he kept mentioning how things worked at Grofers which was something he did not appreciate. Goyal, as he revealed, said, "Can we please stop mentioning that. You can say 'this is what we used to do' but let us say what do we need to make this business work rather than saying this is what worked for us and this can be copy-pasted."
Zomato acquired Blinkit, formerly known as Grofers, in 2022 for Rs 4,447 crore in an all-stock deal, marking its formal entry into India's fast-growing quick-commerce market.
Deepinder Goyal Steps Down
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".
The parent entity of Zomato and Blinkit, among other businesses, was re-branded as Eternal last year. It was co-founded by Goyal in 2008, initially as a restaurant discovery platform called Foodiebay in Delhi, providing menus and reviews, before rebranding to Zomato in 2010.
Zomato listed on the stock exchanges in 2021, re-branded to Eternal last year to reflect its expansion beyond the food delivery business to quick commerce (Blinkit); Hyperpure (B2B supplies); District (ticketing, dining out, etc.), among others.
ALSO READ: Who Is Albinder Dhindsa? All You Need To Know About New Eternal Chief As Deepinder Goyal Steps Down
Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.