Deepinder Goyal, founder and CEO of Eternal — the parent company of Zomato and Blinkit — has resigned from his position, with Blinkit’s current CEO Albinder Dhindsa named his successor. Goyal’s resignation comes weeks after he ignited an online storm over his comments about India’s gig economy, and the working conditions of delivery workers in the sector.
Although, it is worth noting that Goyal’s explanation for the resignation makes no mention of the strikes.
“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,” Goyal said in a letter to shareholders. Dhindsa will replace Goyal from February 1, even though the latter will remain on the board of directors as Vice Chairman of the company.
Goyal also runs Continue, a longevity focused research arm and LAT Aerospace, an aviation company for short duration flights. He had co-founded Zomato in 2008, then called Foodiebay, a platform to provide restaurant menus and reviews, before it evolved into the food delivery giant.
“This transition allows Eternal to remain sharply focused, while giving me the space to explore ideas that do not fit Eternal’s risk profile,” Goyal told shareholders.
“The centre of gravity for operating decisions moves to Albi (Albinder Dhindsa). As Group CEO, he will own day-to-day execution, operating priorities, and business decisions. Blinkit’s journey from acquisition to breakeven happened under his leadership. He built the team, the culture, the supply chain, the operating rhythm,” he added.
Earlier this month, after tens of thousands of delivery workers went on strike calling for better wages and the ability to unionise, Goyal spoke in defence of the gig economy, arguing that the sector had created organised jobs at an unprecedented scale in the country, and had provided employment opportunities to lakhs of workers.
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However, his comments soon drew the ire of worker associations, particularly his labeling of those who went on strikes as “miscreants”. Goyal’s argument that the gig economy should be seen as a flexible, short-term job option was also questioned, particularly due to the platform’s payout policies to workers, which are often tied to incentives rather than a basic, minimum guarantee wage structure.
Among the most vocal voices in favour of the workers was that of Aam Aadmi Party MP Raghav Chadha, who has for months now been raising the issue both inside Parliament and outside. He spent New Year’s Eve with delivery riders in Delhi’s Old Rajinder Nagar, saying such workers have helped build instant commerce companies but are now forced to protest just to be heard.
In a ground report published last week, The Indian Express found that workers who might pursue these jobs just as a flexible option may have limited avenues for making money, with any meaningful financial incentives only kicking in if they spent upwards of 12 hours a day working for such platforms.
© The Indian Express Pvt Ltd
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