MongoDB (MDB.US) CEO suddenly resigns to join Meta, stock plunges over 25%

According to Golden Ten Data, MongoDB (MDB.US) shares plunged more than 25% on Monday, after the company's CEO Chirantan “CJ” Desai suddenly resigned and will join Meta Platforms (META.US) to lead its newly established enterprise platforms business.

Desai will serve as Meta’s new Chief Enterprise Platforms Officer, reporting directly to Meta CEO Mark Zuckerberg. Prior to joining MongoDB, Desai held executive positions at ServiceNow (NOW.US).

In response, the MongoDB board of directors has appointed Dev Ittycheria as interim President and CEO. The board has launched a formal search for a permanent successor and has engaged an executive search firm to assist. Ittycheria previously served as MongoDB President and CEO from 2014 to 2025.

“I am honored to return as President and CEO of MongoDB,” said Ittycheria. “I had the privilege of leading this company for over a decade, helping develop MongoDB into the global business it is today. I have deep knowledge of the company, our employees, and customers, and am confident in the opportunities ahead. I look forward to working with the leadership team and thousands of outstanding employees worldwide to act swiftly, focus on execution, and continue delivering exceptional value to our customers.”

Board Chairman Tom Killalea added, “He possesses deep knowledge of the company, has been an actively engaged board member over the past year, and will assume the role immediately to ensure a smooth transition.”

MongoDB reaffirmed its performance guidance for the third quarter and for the full fiscal year 2027.