Food delivery and quick commerce firm Eternal on Wednesday announced that founder Deepinder Goyal will step down as chief executive officer and managing director, transitioning to the role of vice chairman, while Blinkit CEO Albinder Singh Dhindsa will take over as the company’s new CEO.

The company’s board approved Goyal’s resignation as Director, MD & CEO with effect from February 1 and recommended his appointment as Vice Chairman & Director on the board for a five-year term, subject to shareholders’ approval.

The board also approved the appointment of Dhindsa as Eternal’s Chief Executive Officer from February 1, a regulatory filing said.

In a letter to shareholders, Goyal explained his decision to step away from the CEO role, saying:

"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."

He added that the leadership transition would help the company maintain strategic clarity while allowing him room to pursue ideas outside Eternal’s risk framework. 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.

Eternal, which operates food delivery platform Zomato and quick commerce firm Blinkit, reported a strong sequential rise in profitability in the December quarter, driven by surging demand for quick-delivery services.

Consolidated net profit rose 72.88 per cent year-on-year to Rs 102 crore for the third quarter of FY26, compared with Rs 59 crore in the year-ago period.

On a sequential basis, profit more than doubled to 1.02 billion rupees ($11.12 million) for the quarter ended December 31, up from 650 million rupees in the previous quarter.

Revenue from operations during the quarter increased sharply to Rs 16,315 crore from Rs 5,405 crore in the corresponding period of the previous fiscal. However, total expenses also rose significantly to Rs 16,493 crore from Rs 5,533 crore a year ago.

With Dhindsa set to take charge, Eternal aims to sustain momentum in its core food delivery and quick commerce businesses amid rising competition and expanding consumer demand.