Zomato’s internal communication was an internal communication, says company

The news of its restructuring to a larger organisation was meant for internal communication, according to a clarification to the BSE. After reports of its Eternal Restructuring Scheme, Capital Markets Regulator Securities and Exchange Board of India had asked Zomato to clarify on the matter.

The news report stated that the internal communique was not shared with the media house by Zomato. It was merely to communicate the vision for the leadership structure.

We would like to clarify that the alleged report has quoted an internal communication that has been shared by our Chief Executive Officer and Managing Director, Deepinder Goyal and was not shared with Livemint. The message was intended to communicate the vision for the leadership structure of the Zomato group as it continues to grow, it said, adding that Zomato believes that internal communication is not material and does not require disclosure.

As and when required, it said that Zomato will make all the necessary disclosures.

The clarification comes after reports stated that Zomato, helmed by Deepinder Goyal, will have multiple CEOs, under a larger organisation called Eternal He said that from a company headed by him, Zomato will transition into a company with multiple CEOs for each of their businesses.

We are moving from a company where I was CEO to a place where we will have multiple CEOs running our businesses, all acting as peers to each other, and working as a super team to build a single large and seamless organisation. Goyal said in his letter to his employees that they were going to call this larger organisation 'Eternal' starting today.

He said that Eternal will have multiple companies, including Feeding India, Hyperpure, and Zomato. He said that Eternal will be an internal name for now, and that the logo will start appearing at a few places in their office.