Prime Highlights-
- Meta hired MongoDB CEO Chirantan Desai as chief enterprise platform officer to lead a new AI business for companies.
- MongoDB shares fell 18% in Monday morning trading after Desai’s exit, less than a year into his CEO tenure.
Key Facts-
- Desai will report directly to Meta CEO Mark Zuckerberg in the newly created enterprise platform role.
- Meta Enterprise Platform will offer Muse, Meta Business Agent, AI models, agents and coding tools to businesses.
Background-
Meta Platforms has hired MongoDB chief executive Chirantan “CJ” Desai to run a new business that sells the company’s artificial intelligence tools to corporate customers.
MongoDB shares fell 18% in morning trading on Monday after news of the exit, which comes less than a year after Desai took charge.
Meta said Desai will serve as chief enterprise platform officer and report directly to CEO Mark Zuckerberg. He will turn Meta’s AI stack into products and services that companies can use in their own operations.
The company will offer its AI models, agents and tools through the new Meta Enterprise Platform. The lineup includes Muse, Meta Business Agent and coding tools.
Meta launched Muse earlier this month. The personal AI agent shops, books travel, sends emails and makes payments for users. It has climbed Apple App Store and Google Play rankings in recent weeks, and analysts say it could be the biggest US app launch since ChatGPT arrived in November 2022.
MongoDB named Dev Ittycheria, whom Desai replaced, as interim CEO while it searches for a permanent successor. Brokerage Piper Sandler said the departure disappoints but MongoDB remains well placed strategically, and it called the share price drop overdone.
Desai previously led product and engineering at Cloudflare. He also spent nearly eight years at ServiceNow, including as president and chief operating officer. MongoDB makes database software that businesses use to build and run applications.
