Software program firm Truecaller on Thursday named Rishit Jhunjhunwala as its new chief government officer (CEO). Jhunjhunwala is the present chief of merchandise within the Swedish firm and has been working with Truecaller since 2015.
New CEO of Truecaller, Rishit Jhunjhunwala
Jhunjhunwala, who has labored for Truecaller since 2015, can also be the managing director of the corporate’s India division. He’ll take over his new position on January 9, after incumbent Alan Mamedi steps down.
The change in management comes as Co-founders Alan Mamedi and Nami Zarringhalam introduced of their letter that they’ve determined to surrender their operational duties at Truecaller from June 30, 2025.
The letter additional stated Mamedi and Zarringhalam will now deal with Truecallers’s long-term technique as board members and advisors, permitting the management workforce to take full possession and drive the corporate’s continued development.
Previously decade, Jhunjhunwala has held a number of key positions within the firm. Initially, he was appointed as the pinnacle of product in 2015. He was promoted to chief product officer in 2020, after which given the place of managing director of the India department in 2021.
This comes on the identical day because the Revenue Tax Division performed a number of raids on the Indian places of work of the worldwide caller ID platform on costs of tax evasion, reported PTI. The Stockholm-headquartered firm stated it was cooperating with the investigators.
After the searches, Truecaller issued a public assertion saying that it’s awaiting official affirmation and communication from the tax division concerning the investigation.
“On Thursday 7 November 2024, Truecaller’s India offices were visited by Indian Tax officials. Truecaller are currently assisting the authorities to the full extent at our offices. This came without prior notice and Truecaller are currently awaiting official confirmation and communication from the tax departments,” the assertion stated.
“Truecaller would like to reiterate that Truecaller is not subject to any tax investigation in India outside the routine tax audits. Truecaller’s group financial statements have always received an unqualified audit opinion. Truecaller has always paid all taxes due in India and all regions where it operates,” it added.
The corporate stated its switch pricing coverage for its intra-group transactions is in keeping with the internationally accepted arm’s size customary, as has been knowledgeable earlier.