Deepinder Goyal to give up ₹1,000-crore Eternal ESOPs as he steps down as CEO: Report
In a surprising move, billionaire Deepinder Goyal, the founder and CEO of Zomato parent company Eternal, has announced that he will be stepping down as the CEO of the company. As part of this transition, Goyal will also be giving up his unvested Employee Stock Ownership Plans (ESOPs) worth around ₹1,000 crore. This decision is expected to have significant implications for the company, its employees, and its investors.
According to a report by the Economic Times, Goyal’s decision to give up his unvested ESOPs means that 3.3 crore shares will return to the company’s pool. This is a significant development, as it will help to reduce the company’s ESOP dilution in the future. As Akshant Goyal, the company’s CFO, stated, “Because [of this]…we may not need to dilute our ESOPs again for slightly longer.” This suggests that the company will have more flexibility in terms of its ESOP allocation, which could be beneficial for its employees and investors.
The decision by Goyal to give up his ESOPs is also seen as a sign of 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 stakeholders ahead of his own personal interests. This move is likely to be viewed positively by investors and employees, who will see it as a demonstration of Goyal’s leadership and vision for the company.
The news of Goyal’s decision to step down as CEO and give up his ESOPs has sent shockwaves through the business community. Many are speculating about the reasons behind this move, with some suggesting that it may be related to the company’s plans for expansion and growth. Others are seeing it as a sign of a broader shift in the company’s leadership and strategy.
Regardless of the reasons behind Goyal’s decision, one thing is clear: this move will have significant implications for the company and its stakeholders. The return of 3.3 crore shares to the company’s pool will give Eternal more flexibility in terms of its ESOP allocation, which could be beneficial for its employees and investors. Additionally, Goyal’s decision to give up his personal interests for the benefit of the company is likely to be seen as a positive development, demonstrating his commitment to the company’s long-term success.
As the company moves forward under new leadership, it will be interesting to see how this decision plays out. Will the return of ESOPs to the company’s pool lead to increased employee satisfaction and retention? Will the company’s investors view this move as a positive development, leading to increased confidence in the company’s leadership and strategy? Only time will tell, but one thing is certain: Deepinder Goyal’s decision to give up his ₹1,000-crore Eternal ESOPs is a significant development that will be closely watched by the business community.
In conclusion, the news of Deepinder Goyal’s decision to step down as CEO of Zomato parent company Eternal and give up his unvested ESOPs worth around ₹1,000 crore is a significant development that will have far-reaching implications for the company and its stakeholders. As the company moves forward under new leadership, it will be interesting to see how this decision plays out and what impact it will have on the company’s employees, investors, and overall success.
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