Who is Rishit Jhunjhunwala, the new Truecaller CEO

Swedish software company Truecaller announced on Wednesday that Rishit Jhunjhunwala, its current Chief of Products and Managing Director of the India division, will step into the role of CEO, effective January 9. Jhunjhunwala, who joined Truecaller in 2015, will succeed Alan Mamedi as he steps down.

Truecaller co-founders Alan Mamedi and Nami Zarringhalam revealed in a letter that they plan to step away from day-to-day responsibilities by June 30, 2025. "After much reflection, we have decided to leave our operational responsibilities at Truecaller. Words cannot express how proud we are of how Truecaller has developed since we founded the company in 2009," the letter stated. They expressed confidence in the current management team and Truecaller’s long-term strategic direction, noting they will remain actively involved as board members, major shareholders, and advisors.

In a separate financial update, Truecaller reported a 15% year-on-year increase in quarterly net sales, reaching 457 million Swedish crowns ($42.21 million).

All About Rishit Jhunjhunwala

Rishit Jhunjhunwala, who has been with Truecaller since 2015, has served as the Head of Product and, since 2021, as the Managing Director for Truecaller India. Born and raised in India but a Swedish citizen, Jhunjhunwala lived in Sweden from 2015 to 2022. In his current role, he oversees Truecaller's product teams and manages the company’s revenue streams, including advertising and Truecaller for Business.

Jhunjhunwala, born in 1977, holds a Business Management degree from Bangalore University. Before joining Truecaller, he served as Vice President at July Systems and co-founded Cloud Magic Inc. Jhunjhunwala currently holds 12,436 Truecaller shares, along with warrants and stock options from LTIP programs between 2021 and 2024.