Eternal Ltd Sees Stock Dip After Leadership Change in Food Delivery Segment

In a key leadership shakeup, Eternal Ltd has announced the appointment of Aditya Mangla as the new Chief Executive Officer for its food ordering and delivery business, effective July 6, 2025. This decision, approved by the company’s board of directors, marks a significant transition as Rakesh Ranjan steps down after completing his two-year tenure.

Despite the long-term upward trajectory—shares of Eternal have gained around 24 percent over the past year—the market reacted cautiously to the news. On the day of the announcement, Eternal’s shares slipped, signaling mixed investor sentiment toward the leadership change.

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The development comes amid broader expectations of continuity and strategic clarity for the company’s food delivery and quick commerce verticals—two of Eternal’s most dynamic business arms.

Leadership Transition at a Pivotal Moment

Rakesh Ranjan, who took charge of Eternal’s food delivery operations two years ago, officially ended his stint on July 6, 2025, and will also cease to be designated as a Senior Management Personnel (SMP) from the same day. His departure had been first reported in April this year by Moneycontrol, prompting early speculation on Eternal’s leadership pipeline.

In a communication to the exchanges, Eternal Ltd confirmed the completion of Ranjan’s tenure and announced that Mangla’s appointment would be for a fixed period of two years.

Aditya Mangla Steps In With a Renewed Vision

Aditya Mangla’s entry signals not just a routine replacement but also a possible shift in vision and leadership style. The company’s founder and CEO, Deepinder Goyal, addressed the team in a heartfelt internal email, emphasizing the deeper meaning behind the transition.

“This isn’t just a change of roles. It’s a signal for the kind of leadership we need as we move into our next chapter,” Goyal wrote.

“Leadership is not just about knowing what to do. It’s about learning how to see — seeing the invisible cause and effect. We need leaders who listen not to reply, but to understand.”

This emotional and reflective note highlights Eternal’s focus on empathetic and visionary leadership, especially as the company navigates a highly competitive and evolving food tech landscape.

Mixed Market Reaction, but Analyst Confidence Remains

While Eternal’s stock dipped following the announcement, Morgan Stanley has maintained its ‘overweight’ rating on the stock, suggesting continued institutional confidence in the company’s long-term strategy.

Analysts believe that Aditya Mangla’s appointment may bring fresh energy and a new approach to the company’s food delivery business, which has seen both growth and challenges over the past year.

Despite the leadership change, the company’s fundamentals remain strong, and the quick commerce business continues to show promising signs of expansion.

Looking Ahead: Will the New CEO Deliver?

The timing of this leadership transition is crucial. Eternal has been scaling aggressively in both tier-1 and tier-2 cities, competing with established players in food delivery and quick commerce. The market will be closely watching how Mangla steers the segment over the next two years.

With changing consumer behavior, rising competition, and pressure on profitability, the road ahead will demand sharp execution, innovation, and customer-centric strategies.

Mangla’s leadership style, decision-making, and ability to drive operational excellence will be key indicators of Eternal’s future performance in the food tech space.

Conclusion

Eternal Ltd’s announcement of Aditya Mangla as the new CEO of its food delivery business has stirred investor curiosity and prompted a dip in stock prices. However, the market is also cautiously optimistic, as reflected in the unchanged analyst outlook.