Deepinder Goyal to give up ₹1,000-crore Eternal ESOPs as he steps down as CEO: Report
In a significant development, billionaire Deepinder Goyal, the founder and CEO of Zomato’s parent company Eternal, is set to give up unvested ESOPs (Employee Stock Ownership Plans) worth around ₹1,000 crore as he steps down from his role as CEO. This move is expected to have a positive impact on the company’s ESOP pool, with 3.3 crore shares set to return to the company.
According to a report by the Economic Times, Goyal’s decision to relinquish his unvested ESOPs is a significant one, with the value of these shares estimated to be around ₹1,000 crore. This move is seen as a strategic decision by Goyal, who is stepping down as CEO of Eternal to focus on other ventures. The report quotes Akshant Goyal, the company’s CFO, as saying, “Because [of this]…we may not need to dilute our ESOPs again for slightly longer.”
The development is significant, as it highlights the company’s commitment to managing its ESOP pool effectively. By returning 3.3 crore shares to the company’s pool, Eternal can avoid diluting its ESOPs in the near future. This move is expected to have a positive impact on the company’s stock price and investor sentiment.
The decision by Goyal to give up his unvested ESOPs is also seen as a testament to his commitment to the company’s long-term growth and success. As the founder and CEO of Eternal, Goyal has played a pivotal role in shaping the company’s strategy and vision. His decision to relinquish his ESOPs is a significant one, and it demonstrates his confidence in the company’s ability to continue growing and thriving under new leadership.
The development is also expected to have a positive impact on the company’s employee stock ownership plans. With 3.3 crore shares returning to the company’s pool, Eternal can use these shares to incentivize and reward its employees. This move is expected to boost employee morale and motivation, as it demonstrates the company’s commitment to recognizing and rewarding their hard work and contributions.
In recent years, Eternal has been focused on expanding its operations and growing its business. The company has made significant investments in new technologies and initiatives, and it has also expanded its presence in new markets. The decision by Goyal to give up his unvested ESOPs is seen as a strategic move to support the company’s growth plans and ensure that it has the necessary resources and talent to achieve its goals.
The news of Goyal’s decision to relinquish his ESOPs has sent shockwaves through the business community, with many analysts and investors praising the move. The development is seen as a positive one for the company, and it is expected to have a significant impact on its stock price and investor sentiment.
In conclusion, the decision by Deepinder Goyal to give up his unvested ESOPs worth around ₹1,000 crore is a significant one, and it highlights the company’s commitment to managing its ESOP pool effectively. With 3.3 crore shares set to return to the company’s pool, Eternal can avoid diluting its ESOPs in the near future and use these shares to incentivize and reward its employees. The move is expected to have a positive impact on the company’s stock price and investor sentiment, and it demonstrates Goyal’s confidence in the company’s ability to continue growing and thriving under new leadership.
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