In a significant realignment within one of India’s most recognised tech firms, Eternal Ltd, the newly rebranded parent of Zomato, Blinkit, and District, has announced the departure of two senior executives from its food delivery vertical: Rakesh Ranjan, CEO of Food Delivery, and Rinshul Chandra, COO of the same division.
The departures, which were swiftly announced, occur as the business manages a changing operational strategy that intensifies attention to structural consolidation, artificial intelligence, and profitability.
Strategic Shifts Behind the Departures
Rinshul Chandra’s April 7 resignation was revealed in a company filing alongside an emotional letter to Eternal’s founder and CEO, Deepinder Goyal. Chandra, who had come on board the company in 2018 and worked his way up to becoming COO in 2023, attributed his resignation to taking “new opportunities and passions related to changing personal and professional aspirations.”.
Days later, Rakesh Ranjan stepped down from his role as CEO of the food delivery business. Ranjan, who had held the position since mid-2023, exits amidst what internal sources describe as a broader leadership reshuffle aimed at revitalizing Eternal’s delivery ecosystem amid rising competitive pressure from Swiggy and plateauing growth.
While Chandra exits the company, Ranjan will reportedly continue in a different capacity. According to Moneycontrol, his resignation is part of Eternal’s annual leadership rotation cycle, not a permanent departure from the company.
Business Context: AI Integration and Rebranding
The leadership exits coincide with Eternal’s strategic pivot toward AI-driven efficiency and long-term sustainability. The firm has launched “Nugget,” an AI platform that now handles 80% of customer support queries across Zomato, Blinkit, and Hyperpure — a move that recently resulted in layoffs affecting around 500 workers from its Associate Accelerator Programme.
Moreover, the company officially rebranded from Zomato Ltd to Eternal Ltd in March 2025, signaling a broader vision. “We want to build an organization that lasts as long as possible,” said Goyal, defending the company’s resilience amid global economic uncertainties.
Markets React with Optimism
Interestingly, despite the high-profile exits, Eternal’s stock has remained largely unfazed. The company’s share price rose marginally following the announcements and continues to trade in the green. Market watchers attribute this to investor confidence in the company’s underlying business fundamentals and Goyal’s continuing leadership, who will temporarily oversee the food delivery operations.
Eternal reported strong financials in Q3 FY25 with revenues reaching ₹2,226 crore and net profit climbing to ₹494 crore an uptick from the previous quarter. Analysts say the performance reflects stabilization in core operations, despite challenges in scaling quick commerce and food delivery growth.
Consolidation and Clarity
The exits are part of Eternal’s wider effort to reset its leadership framework to address current market needs and internal performance standards.
Simultaneously, the leadership change demonstrates the difficulty in maintaining momentum within a hyper-competitive food-tech space. With Eternal focusing further on AI, operational efficiency, and long-term branding, the next few months will tell whether these strategic interventions are reflected in continued market leadership or create new avenues for competition for players such as Swiggy.
Also Read: Zomato COO Rinshul Chandra Resigns Amid Business Challenges
