MongoDB CEO Jumps to Meta, Stock Plunges Nearly 20%

MongoDB Inc. shares fell sharply on Monday. The company announced that Chief Executive Officer Chirantan Desai has stepped down immediately to take a senior role at Meta Platforms. Here's what you need to know.

MongoDB shares are pulling back. What's next for MDB stock?

MongoDB CEO Steps Down, Moves to Meta

Desai's roles as President and CEO ended effective immediately, and the company confirmed he will join Meta Platforms Inc in a senior position. To fill the void, the board has brought back a familiar face: Dev Ittycheria, who led MongoDB for about 11 years before stepping down in 2025, now returns immediately as interim President and CEO.

Board Chairman Tom Killalea called the choice a natural fit, noting Ittycheria's deep knowledge of the business and his ongoing presence as an active board member over the past year, adding that Ittycheria "will step in immediately to ensure a smooth transition."

MongoDB Reaffirms Guidance Despite Leadership Change

Despite the sudden executive shakeup, MongoDB believes its business fundamentals remain solid, maintaining its third-quarter and full-year fiscal 2027 targets announced on September 1. The company kept its third-quarter adjusted earnings per share guidance at $1.57 to $1.61, above analyst expectations of $1.54, and revenue guidance at $756 million to $761 million, above the roughly $745.38 million expected.

For fiscal 2027, MongoDB maintained adjusted EPS guidance at $6.39 to $6.58, above the $6.13 estimate, and revenue guidance at $2.99 billion to $3.03 billion, above the roughly $2.95 billion expected.

Investors will also soon get a deeper look at the company's strategy. MongoDB is scheduled to host an Investor Day on September 29 from 11:00 a.m. to 3:15 p.m. ET at the Nasdaq MarketSite, where executives are expected to outline the company's long-term direction, including opportunities in the developer data platform and artificial intelligence.

MDB Stock Tumbles

MDB price action: As of Monday's writing, MongoDB shares were down 19.44% at $330.65.