Truecaller names Rishit Jhunjhunwala as new CEO

Truecaller, the Swedish caller identification app provider, has named Rishit Jhunjhunwala as its group chief executive officer (CEO), effective from January 9, 2025.

This move comes as current CEO Alan Mamedi and Chief Strategy Officer Nami Zarringhalam decide to step down from their operational roles to focus on their board responsibilities and act as strategic advisors to Truecaller.

“We have a fantastic management team in whom we have immense trust, and we have a long-term strategy that everyone supports, and which has started to yield positive results. With these two pieces in place, we are convinced that the company is well positioned for future success to enable us to focus more on long-term strategy,” the duo, who co-founded the company in 2009, said in a statement.

Mamedi and Zarringhalam will continue to be employed by the Swedish company as advisors until June 30 2025.

“Nami and I will remain committed to supporting Rishit and the entire leadership team as board members and strategic advisors, and we are excited to watch the company continue to thrive under Rishit’s leadership,” the Co-founders of Truecaller, said in a personal letter following the announcement.

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Jhunjhunwala has been with Truecaller since 2015, initially serving as head of product. In June 2020, he was promoted to chief product officer, and in May 2021, he assumed the role of managing director for India.

“His deep product knowledge and leadership experience have been critical to our success, and we have always regarded him as a co-founder of Truecaller. Over the past two years, I’ve had the privilege of personally mentoring Rishit to take on a larger role within the company, and Nami and I are confident that he is ready to lead the company on a global scale,” the letter added.

Jhunjhunwala, born and raised in India but a Swedish citizen, worked and lived in Sweden from 2015 to 2022.

“Together with the rest of the management team, I look forward to taking Truecaller to even greater heights. Having worked closely with Alan and Nami since 2015, I know these are big shoes to fill, but I am confident to continue tirelessly working towards getting us closer to our mission to make future communication more safe and secure,” Jhunjhunwala, remarked.

The Swedish caller identification app, with India as its largest market globally, has over 500 million monthly active users.

For the Sweden-based company, India remains the biggest market with the region accounting for 75.8% of the total net sales for the financial year 2022-23, owing to its three revenue streams—Truecaller for Business, premium subscriptions, and ads.