Zomato’s Deepinder Creates Umbrella Organization Led by “Eternal” CEO
ZomatoFounder and CEO, Deepinder Goyal, has unveiled a new organizational structure that will see the company’s businesses, such as Zomato, flashesand Hyperpurecontrolled by various CEOs under a single umbrella company named “Eternal”.
Train the Eternal and the CEOs
Goyal said they are at a time in their life where they are going from managing (more or less) one company to managing many large companies right now in a note sent to employees on a communication channel. internal.
According to the sources, Goyal mentioned in a note that since the Zomato-Blinkit merger was cleared, the three companies – Zomato, Blinkit and Hyperpure – are listed in order of size and influence.
He explained that they were going from a company where he served as CEO to one where multiple CEOs would be in charge of each of their companies, acting as peers to each other and collaborating as a super-team to create a unique and sizeable organization. .
Zomato and others
At a time when Zomato’s stock is battered on Dalal Street, the company plans to refer to this larger entity as “Eternal”. It has fallen nearly 69% this year and was hovering around Rs. 46 on Monday.
According to Goyal, “Eternal” will have multiple companies. Zomato (delivery + restaurant), Blinkit, Hyperpure and Feeding India are already available. For now, Eternal will only be used internally. The “Eternal” emblem is now featured on company property and products such as t-shirts, indicating employee acceptance of the new branding.
Zomato, an online meal delivery service, distributed more than 4.66 crores of shares from its employee stock option plan (ESOP) pool late last month to its staff, each bearing a par value of Rs 1. According to its statement to the stock exchanges, the allocation of 4,65,51,600 equity shares to employees upon exercise of vested stock options has been approved by the Board of Directors.
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