Truecaller appointed Rishit Jhunjhunwala as there New CEO

Truecaller has appointed Rishit Jhunjhunwala as its new Chief Executive Officer (CEO), marking a significant shift in leadership for the Swedish software company. Currently serving as the Chief of Products, Jhunjhunwala has been a part of Truecaller since 2015 and is also the Managing Director of its India operations. He will assume his new role on January 9, 2025, succeeding Alan Mamedi, who is stepping down as CEO.

The leadership change comes following a decision by Truecaller’s co-founders, Alan Mamedi and Nami Zarringhalam, to step back from their operational roles by June 30, 2025. In a letter to stakeholders, the founders announced their intention to focus on shaping the company’s long-term strategy as board members and advisors. They emphasized their confidence in the leadership team to continue driving Truecaller’s growth and success.

Jhunjhunwala has played a pivotal role in the company’s journey over the past decade. He joined Truecaller in 2015 as Head of Product and was later elevated to Chief Product Officer in 2020. By 2021, he had taken on the additional responsibility of overseeing Truecaller’s India operations as Managing Director. His extensive experience within the company makes him a natural choice to lead the organization into its next phase.

On the same day as this leadership announcement, Truecaller’s India offices were subject to unannounced visits from the Income Tax Department, reportedly investigating allegations of tax evasion. In response, Truecaller issued a public statement confirming its full cooperation with the authorities. The company stated that it had not received any prior notice and was awaiting official communication regarding the investigation.

Truecaller clarified that it is not under any tax investigation beyond routine audits and reiterated its compliance with tax regulations in all regions of operation, including India. The company emphasized that its financial statements have consistently received unqualified audit opinions, and its transfer pricing policies align with internationally recognized arm’s length standards.