MongoDB shares plunged earlier Monday morning after CEO Chirantan "CJ" Desai abruptly stepped down and was tapped to lead Meta's new AI platform for enterprise customers, which Mark Zuckerberg called "the next major pillar of our business."
"To lead this effort, I'm excited that Chirantan "CJ" Desai will join Meta as Chief Enterprise Platform Officer, reporting directly to me," Zuckerberg wrote on X around 0835 local time in New York.
The business unit, called Meta Enterprise Platform, aims to "help businesses use AI to grow and transform in new ways as well," Zuckerberg said.
Zuckerberg continued, "CJ is an experienced enterprise leader with a track record of building full-stack software and delivering results in AI, infrastructure, business applications, and security."
To lead this effort, I'm excited that Chirantan "CJ" Desai will join Meta as Chief Enterprise Platform Officer, reporting directly to me. CJ is an experienced enterprise leader with a track record of building full-stack software and delivering results in AI, infrastructure,…
— Mark Zuckerberg (@finkd) September 28, 2026
MongoDB's stock was down as much as 21% to $326.51 around 11 am local time in New York. This was the worst intraday decline since March 3.
Needham software analyst Mike Cikos called the development "unfortunate, as it comes just a day be
