MongoDB CEO Chirantan Desai Steps Down to Join Meta as Chief Enterprise Platform Officer

11:19 AM EDT, 09/28/2026 (MT Newswires) -- MongoDB's (MDB) Chief Executive Chirantan Desai has stepped down and is joining Meta Platforms (META) as chief enterprise platform officer to oversee the technology giant's new business unit for enterprise customers. Desai will lead the Meta Enterprise Platform that will focus on supporting businesses in the use of artificial intelligence, Meta CEO Mark Zuckerberg said Monday. "Meta Enterprise Platform will use our strengths that few other companies have: advanced models, leading agents, large-scale infrastructure, and years of working closely with many businesses," Zuckerberg said. "Initially, we will focus on bringing our full technology stack, including the Muse agent, Meta Business Agent, Muse API, Muse Code, and more to businesses and developers to help them grow." MongoDB's shares fell over 18% in Monday trading, extending year-to-date losses to more than 20%. Meta stock was down 4.2% and has gained 9.1% this year. Desai spent less than a year at MongoDB after succeeding Dev Ittycheria as the president and CEO of the database software maker in November 2025. He previously served at Cloudflare (NET) as president of product and engineering. MongoDB said its board appointed Ittycheria as interim president and CEO, effective immediately, and started a search for a permanent replacement. "MongoDB's business is strong, and there is no better person to take on the role of president and CEO in the interim than Dev Ittycheria," Tom Killalea, chairman of MongoDB's board, said in a statement. "He knows this company deeply, has remained an involved and active executive board member over the past year, and will step in immediately to ensure a seamless transition." Truist Securities said Monday that Ittycheria's return will help "preserve strategic continuity" related to its cloud database service Atlas, AI workloads and developer data platform. "While the announcement introduces volatility, we do not view it as a reflection of MongoDB's competitive positioning, product strategy, or underlying growth opportunity," according to the note emailed to clients. MongoDB said it is "confident" about its outlook and reaffirmed guidance for fiscal third quarter and full year 2027. Earlier in September, the company raised its full-year outlook after second-quarter results topped analysts' estimates. In July, Meta provided a soft third-quarter revenue outlook following an unexpected year-over-year decline in quarterly earnings, while it raised the lower end of its capital expenditure guidance. Price: 327.46, Change: -82.98, Percent Change: -20.22