Zomato Founder Deepinder Goyal to Return Unvested ESOPs After Stepping Down as Eternal CEO

Deepinder Goyal Returns Unvested ESOPs as He Steps Down as Eternal CEO.

Deepinder Goyal, founder of Eternal, the parent company of food delivery platform Zomato, has announced that all his unvested Employee Stock Ownership Plans (ESOPs) will revert to the company’s ESOP pool as he steps down from his role as Group CEO.

In a letter to shareholders dated January 21, Goyal said the decision is intended to support long-term leadership and avoid additional dilution for shareholders.

ESOPs to Support Future Leaders
“As part of this transition, all of my unvested ESOPs will revert to the ESOP pool,” Goyal wrote. He added, “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.”

In essence, Goyal’s move aims to enhance employee retention and empower future leadership, without affecting existing shareholders.

Founder Stresses Alignment with Shareholders
Goyal emphasized that stepping down as CEO does not mean he is stepping away from the company’s future.

“My financial future remains meaningfully tied to Eternal, and my incentives remain aligned with long-term shareholder value creation,” he wrote. By returning the unvested ESOPs, Goyal underlined his focus on the company’s long-term growth rather than short-term personal gains.

Leadership Transition at Eternal
On Wednesday, Eternal announced a major leadership change. Deepinder Goyal will step down as CEO and Managing Director and move into the role of Vice Chairman, while continuing as a board director.

Blinkit CEO Albinder Singh Dhindsa has been named the new CEO, with the transition effective from February 1, 2026.