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No plan to rename Zomato app as Eternal, says CEO Deepinder Goyal
Goyal stated in a stock exchange filing on Monday that the internal reorganisation was not intended to imply a succession plan.
Highlights
- Zomato doesn't have any plan to rename itself to Eternal.
- Blinkit (formerly Grofers) is currently led by co-founder and CEO Albinder Dhindsa, and Feeding India, a non-profit acquired in 2019.
- Goyal stated in a stock exchange filing that the internal reorganisation was not intended to imply a succession plan.
New Delhi: Deepinder Goyal, CEO of Zomato, stated that the company's rebranding as Eternal is an internal exercise and that there are no plans to rename the company's food delivery app.
"We didn't want the Blinkit team to feel like a stepchild once the transaction was completed." We needed to ensure that Zomato and Blinkit were treated equally in the importance hierarchy of our daily work lives," Goyal said in a Zomato stock exchange filing on August 29.
“The word Eternal is a mission statement in itself. Eternal means forever, something that will last for more than just a lifetime. We want each of our businesses to be built with a very long term view, well beyond our lifetimes,” he added.
"With the approval of the Zomato-Blinkit merger, we now have three companies in the order of business size/impact: Zomato, Blinkit, and Hyperpure. We also have Feeding India in addition to these three. We are now at a point in our lives when we are transitioning from running (more or less) a single business to running multiple large businesses "last month, Goyal sent an internal message.
Blinkit (formerly Grofers) is currently led by co-founder and CEO Albinder Dhindsa, and Feeding India, a non-profit acquired in 2019, is led by Vishal Kumar. Rahul Ganjoo was appointed CEO of food delivery in 2020 in the run-up to the company's IPO. Ganjoo had taken over for Mohit Gupta, who had been promoted to co-founder and CEO of new businesses.
Goyal stated in a stock exchange filing on Monday that the internal reorganisation was not intended to imply a succession plan.
"In fact, one of the most frequently asked questions by investors recently has been along the lines of... Is this a plan for you to eventually go to the hills?" he asked.
"The short and simple answer is NO. I am as enthusiastic about continuing to build Zomato as I have ever been. I believe Zomato is my life's work, and the most difficult (and rewarding) part of the journey is still ahead of me. This announcement has no effect on anyone's roles and responsibilities at Zomato, including and especially mine," he added.