Truecaller, a Swedish software firm, has announced a major leadership change as Rishit Jhunjhunwala, the current Chief of Products and Managing Director for India, is set to become the company’s new CEO starting January 9. Jhunjhunwala, who joined Truecaller in 2015, will take over from Alan Mamedi, the outgoing CEO and co-founder.
In a joint message, Mamedi and fellow co-founder Nami Zarringhalam shared their plans to step down from daily operations by June 30, 2025, though they will stay actively engaged as board members, key shareholders, and advisors. Reflecting on Truecaller’s growth since its founding in 2009, the co-founders expressed pride in the company’s journey and optimism about its future.
In other news, Truecaller reported a 15% rise in quarterly net sales, reaching 457 million Swedish crowns (around $42.21 million). Jhunjhunwala, originally from India but now a Swedish citizen, lived in Sweden from 2015 to 2022 and has overseen Truecaller's product teams and revenue channels, including advertising and the Truecaller for Business service. Born in 1977 and holding a business degree from Bangalore University, he has a background that includes roles as Vice President at July Systems and co-founding Cloud Magic Inc. Currently, Jhunjhunwala owns 12,436 shares in Truecaller along with other stock options and warrants through long-term incentive plans from 2021 to 2024.
