Eternal share price down: Rakesh Ranjan steps down as Zomato food delivery chief, Deepinder Goyal to head ops, says report

Deepinder Goyal, Zomato founder and group CEO, will be leading the vertical, the report said.

Zomato share price

Shares of Zomato's parent, Eternal, were trading 0.69% lower at ₹237.6 apiece on the National Stock Exchange (NSE) at 2:12 pm.

Reacting to news reports, the company, in an exchange filing, said, "We would like to clarify as on date, there has been no resignation tendered by Mr. Rakesh Ranjan and he still continues to be part of the leadership team. At Eternal Group, internal reshuffling of the leadership team is considered a standard practice as part of the Company's ongoing efforts to optimise organizational effectiveness."

This development comes at a time when the food delivery industry is facing a slowdown.

In a shareholder letter in January, Rajan had said, "Currently we are going through a broad-based slowdown in demand which started during the second half of November. Notwithstanding the current slowdown, we are positive about a recovery soon and remain confident of the long term outlook of 20%+ yearly GOV growth in the business given the strong fundamentals."

Earlier this month, Rinshul Chandra resigned as chief operating officer (COO) of the food ordering and delivery business to pursue new opportunities and passions.

"I am writing to resign as COO - Food Ordering & Delivery Business of Eternal Limited, effective April 7, 2025. After careful consideration, I have decided to pursue new opportunities and passions that align with my evolving personal and professional goals. It has been an incredibly fulfilling journey over the past 7 years, and I am truly grateful for the trust, support, and opportunities I’ve received during my time here. I wish our world-class teams at Eternal the very best," Chandra had said in a resignation mail to Deepinder Goyal.