Deepinder Goyal to give up ₹1,000-crore Eternal ESOPs as he steps down as CEO: Report
In a shocking turn of events, billionaire Deepinder Goyal, the founder and CEO of Zomato’s parent company Eternal, has decided to give up his unvested Employee Stock Ownership Plans (ESOPs) worth approximately ₹1,000 crore as he steps down from his position as CEO. This move is expected to have significant implications for the company, its employees, and its future plans.
According to a report by the Economic Times, Goyal’s decision to relinquish his ESOPs means that 3.3 crore shares will return to the company’s pool. This development has been welcomed by the company’s management, with CFO Akshant Goyal stating, “Because [of this]…we may not need to dilute our ESOPs again for slightly longer.” This statement suggests that the company may not need to issue new ESOPs to its employees in the near future, which could help maintain the value of existing shares.
The decision by Goyal to give up his ESOPs is a significant one, as it demonstrates his commitment to the company’s long-term success. By relinquishing his claim to these shares, Goyal is effectively putting the interests of the company and its employees ahead of his own personal interests. This move is likely to be seen as a positive development by investors and stakeholders, as it suggests that the company’s leadership is prioritizing the well-being of the organization over personal gain.
The implications of Goyal’s decision are far-reaching. With 3.3 crore shares returning to the company’s pool, Eternal will have a significant number of shares available for future allocation to employees. This could help to attract and retain top talent, as well as motivate existing employees to work towards the company’s goals. Additionally, the fact that the company may not need to dilute its ESOPs again in the near future could help to maintain the value of existing shares, which could have a positive impact on the company’s stock price.
Goyal’s decision to step down as CEO of Eternal is also significant, as it marks a new chapter in the company’s history. As the founder and CEO of Zomato, Goyal has been instrumental in shaping the company’s vision and strategy. His decision to relinquish his role as CEO suggests that he is confident in the company’s ability to continue growing and thriving under new leadership.
The news of Goyal’s decision to give up his ESOPs has sent shockwaves through the business community, with many analysts and experts weighing in on the implications of this move. Some have praised Goyal’s decision, citing it as an example of his commitment to the company’s long-term success. Others have raised questions about the potential impact on the company’s stock price and the future of its ESOP program.
Regardless of the implications, one thing is clear: Deepinder Goyal’s decision to give up his ₹1,000-crore ESOPs is a significant development that will have far-reaching consequences for Eternal and its stakeholders. As the company navigates this new chapter in its history, it will be interesting to see how Goyal’s decision plays out and what the future holds for this innovative and dynamic organization.
In conclusion, the news of Deepinder Goyal’s decision to give up his ₹1,000-crore ESOPs as he steps down as CEO of Eternal is a significant development that has sent shockwaves through the business community. As the company navigates this new chapter in its history, it will be interesting to see how Goyal’s decision plays out and what the future holds for this innovative and dynamic organization.
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