Eternal, the rebranded identity of Deepinder Goyal’s Zomato, has pushed back against recent speculation suggesting that Rakesh Ranjan, who heads its food delivery division, has exited the company. In a formal communication to the stock exchanges on Thursday, Eternal clarified that Ranjan remains firmly in place as part of the leadership.
This response came after a report by the Economic Times claimed that Ranjan had resigned, and that Goyal had stepped in to oversee the food delivery operations temporarily. The report also suggested that the company was actively scouting for potential replacements, both from within the organization and outside.
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“As things stand, Rakesh Ranjan has not submitted a resignation,” the company stated. “He continues to be an integral member of our leadership team.”
Eternal also noted that leadership reshuffles are nothing new for the company and are part of its ongoing internal adjustments aimed at improving how teams function. The firm, which moved away from the Zomato name earlier this year, has been transitioning into a broader group structure with specialized business units operating under the parent brand.
“At Eternal Group, moving leadership roles around is part of how we fine-tune operations. It’s a routine part of our evolution,” the company said.
These developments come at a time when the food delivery industry in India is showing signs of fatigue. Despite the usually high demand during the festive period, Eternal’s food delivery segment saw only a slight bump in the October–December quarter. Gross order value inched up just 2% from the previous quarter to Rs 9,913 crore, though the year-on-year growth stood at 17%.
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Meanwhile, rival Swiggy nudged ahead slightly in market share, moving from 42% to 43% during the same period.
