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MongoDB Stock Plunges 23% as CEO CJ Desai Leaves for Meta

Barchart·09/28/2026 18:48:13
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Shares of MongoDB ($MDB) plunged about 23% Monday after CEO Chirantan “CJ” Desai stepped down effective immediately to join Meta Platforms ($META) as chief enterprise platform officer. MongoDB appointed former CEO Dev Ittycheria as interim president and CEO and reaffirmed its third-quarter and full-year fiscal 2027 guidance.

  • Desai leaves less than a year after succeeding Ittycheria, who led MongoDB from 2014 through 2025.
  • Meta said Desai will report directly to Mark Zuckerberg and lead its new Meta Enterprise Platform, initially focused on AI agents and coding tools.
  • MongoDB's board has begun a search for a permanent CEO and retained an executive search firm.
  • Ittycheria remained an executive board member after leaving the CEO position and is returning immediately on an interim basis.
  • MongoDB's Investor Day remains scheduled for September 29, with management set to discuss long-term strategy, market opportunities and AI-related product development.

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Editor’s Note: This is a developing story. This article may be updated as more details become available.

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