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Truecaller, the global caller ID and spam blocking software company, has appointed Rishit Jhunjhunwala as its new CEO. Jhunjhunwala, who has been with the company since 2015, will assume his new role on January 9, 2025, succeeding current CEO Alan Mamedi, who will step down from operational duties.
Jhunjhunwala, who currently serves as the Chief of Products and Managing Director of Truecaller’s India division, has played a key role in the company’s growth over the years. In 2015, he joined Truecaller as the Head of Product, and since then, he has held various critical positions, including Chief Product Officer in 2020 and Managing Director of the India division in 2021. His appointment marks a significant step in Truecaller’s leadership transition as the founders, Mamedi and Nami Zarringhalam, move away from day-to-day operations.
In a letter to the company, the founders announced that they will cease their operational duties at Truecaller by June 30, 2025. However, they will continue to provide guidance and long-term strategic direction as members of the board and advisors. This shift will allow Jhunjhunwala and the leadership team to take full ownership of driving the company’s continued growth and innovation.
While the leadership change comes with a focus on Truecaller’s future, it coincides with a major development for the company. On the same day as the announcement, the Income Tax Department of India conducted multiple raids at the company’s Indian offices on charges of alleged tax evasion. The raids have sparked concerns, but Truecaller has responded by stating that it is fully cooperating with authorities.
In a public statement, Truecaller confirmed that tax officials had visited its India offices on November 7, 2024, and that the company is awaiting official communication from the tax department. “Truecaller is not subject to any tax investigation in India outside the routine tax audits,” the statement read. The company further emphasized that its financial records have always received an unqualified audit opinion and that it has always paid its taxes in India and other regions where it operates.
The leadership changes and the tax investigation come at a crucial time for Truecaller, a company that has become a leading name in the global communications space. With Jhunjhunwala at the helm, Truecaller looks poised for continued growth as it navigates these challenges.
Sources By Agencies
