Eternal founder Deepinder Goyal to return unvested ESOPs as he steps down as CEO

Deepinder Goyal, the founder of Eternal Ltd, has announced that he will return all unvested employee stock options (ESOPs) to the company's ESOP pool as he steps down from his position as Group Chief Executive Officer. In a communication to shareholders dated January 21, Goyal explained that this decision is part of a broader strategy to enhance long-term leadership retention and minimize shareholder dilution. Goyal emphasized the importance of this move, stating, "This ensures that Eternal continues to have meaningful wealth-creation opportunities for its next generation of leaders, while strengthening long-term retention without incremental shareholder dilution." He reassured stakeholders that his financial interests remain closely aligned with the company's success and the creation of long-term shareholder value. In this transition, Goyal will hand over the daily operations of the food delivery and quick-commerce company to Albinder Dhindsa, the CEO of Blinkit. Despite stepping down from the CEO role, Goyal will continue to serve on Eternal's board as Vice Chairman, pending approval from shareholders, as mentioned in the letter to investors.