Key Takeaways:
- CJ Desai will report directly to Meta CEO Mark Zuckerberg as he takes charge of the company’s new business platform.
- MongoDB shares fell sharply after Desai’s sudden departure.
- Dev Ittycheria has returned as MongoDB’s interim chief executive.
Meta hires CJ Desai to lead its new business unit
Meta announced that Desai will serve as chief enterprise platform officer and report directly to CEO Mark Zuckerberg. The Meta Enterprise Platform will bring the company’s AI tools and software to businesses and developers.
The new platform will initially include Meta’s Muse agent, Meta Business Agent, Muse API, Muse Code, and other products. Desai left MongoDB after less than a year as its CEO. Before joining MongoDB, he led product and engineering at Cloudflare and spent nearly eight years at ServiceNow.
Meta said Desai has experience in software, infrastructure, business applications, AI, and security. The company expects him to help build products and services that businesses can use in their daily operations.
MongoDB shares fall after Desai leaves
Desai’s move to lead the Meta Enterprise Platform caught investors off guard…. MongoDB shares fell by roughly 20% after the company announced that he was leaving for a senior role at Meta. Reuters reported an 18% drop, while other market reports put the decline at around 20%.
The sharp fall reflected investor concerns about losing a CEO who had been in the role for less than a year. MongoDB’s leadership change also came just before its planned Investor Day.
Despite the change, MongoDB said its business remains strong and confirmed its financial guidance for the third quarter and full 2027 financial year.
Dev Ittycheria returns as interim CEO
MongoDB appointed former CEO Dev Ittycheria as interim president and chief executive on September 28. The leadership change follows Meta’s launch of the Meta Enterprise Platform, which Desai will lead.
During his earlier time as CEO, MongoDB grew from about $35 million in annual revenue to more than $2.3 billion. The board has now started a search for a permanent replacement and hired an executive search firm to help with the process.
MongoDB also held its Investor Day at Nasdaq MarketSite on September 29, where its leadership team was scheduled to discuss the company’s long-term plans, market opportunities, and product development.
Desai’s appointment puts him at the center of Meta’s push to build the Meta Enterprise Platform for businesses and developers.
