Zomato’s parent company, Eternal, has recently announced that it is changing its CEO
After leading the company, founder and CEO Deepinder Goyal will step down after 18 years. He will hand this role to Albinder Singh Dhindsa, who is currently the CEO of Blinkit.
He started his journey in 2008. Under his leadership, the company became very successful and India’s biggest food delivery company and went public in 2021. Later in 2022, Zomato bought Blinkit and changed the group’s name to Eternal. Today, blinkit is one of the company’s biggest revenue sources.
Dhindsa is taking charge when Eternal starts facing tough competition from companies like Swiggy, Amazon and others in the fast-growing instant delivery market, which is worth $11.5 billion.
Before starting at Blinkit in 2014, Dhindsa worked with Zomato and handled their international business.
Goyal will not leave the company completely; he will remain a part of the group as its vice chairman. He said that he wants to focus and spend more time on other projects and new ideas in other businesses beyond the main business. He said he wants Eternal to become India’s most valuable company. Eternal’s share value has grown a lot and the company is now worth around $29 billion.
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Goyal has also invested around $25 million in human health research through his group, Continue Research, and also started LAT Aerospace, which is working on making low-cost planes for travel in India and other countries.
Goyal made it very clear that Blinkit will be the top priority of Dhindsa and praised his leadership, saying his execution skills are even better than his own.
Eternal also reported that their quarterly profit increased by 73% and Blinkit made a profit of ₹40 million, compared to a big loss in the previous quarter.
