Deepinder Goyal, the founder of Eternal Ltd, has stepped down as Group CEO, giving up more than INR 900 crore in unvested employee stock options (ESOPs) valued at INR 1,000 crore. This is one of the biggest acts of responsibility by a founder in India.
The announcement came along with Eternal’s Q3 FY26 financial results. Approximately 3.3 crore unvested shares will be returned to the company’s ESOP pool, bringing the total number of shares to over 23 crore. Experts say this will help the company reward and retain talented employees without reducing shareholder value.
“This move ensures that Eternal continues to sustain meaningful wealth-creation opportunities for the next generation of leaders,” Goyal wrote to shareholders in his transition letter. He also confirmed that all of his unvested ESOPs will revert to the company upon his exit from the CEO position.
Industry analysts praised Goyal’s decision. They said it is a rare example of corporate governance. It shows the leadership is thinking about fairness, employees, and shareholders.
Goyal will not leave the company altogether. He will serve as Vice Chairman and focus on the company’s strategy, culture, and future plans. He also said he wants to explore new projects in areas like longevity and aerospace, which are better suited outside a public company.
Albinder Dhindsa, the founder of Blinkit, will take over as Eternal’s Group CEO from February 1, 2026. Dhindsa will handle day-to-day operations, while Goyal will focus on long-term plans.
This change comes as Eternal grows its food delivery and quick-commerce business. Experts say the move is positive for the company. It will help keep top talent motivated and protect shareholder value. Some warn that leadership changes may cause minor short-term challenges.
Goyal also told shareholders that his money is still tied to Eternal’s success. Even though he is stepping back from daily operations, he still wants to see the company grow and reach new heights.
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