India, Jan. 21 -- Deepinder Goyal is stepping down as group chief executive officer of Eternal Ltd. with immediate effect to become the vice chairman of the company he started 18 years ago. Albinder Dhindsa, Blinkit CEO and a lifelong friend of Goyal, is succeeding him.

"Of late, I have found myself drawn to a set of new ideas that involve 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.

"If these ideas belonged inside Eternal's strategic scope, I would have pursued them within the company. They do not. Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant t...