Enterprise

MongoDB in Turmoil: CEO Steps Down Abruptly

Krishn patel

Krishn patel

— 2 min read
  • Dev Ittycheria, the CEO who guided MongoDB through its 2017 IPO and massive growth, is stepping down after an 11-year tenure.
  • Chirantan “CJ” Desai, a former executive at Cloudflare and ServiceNow, will take over as the new CEO effective November 10.
  • Despite the leadership shake-up, MongoDB signaled strong financial health, announcing it expects to beat its fiscal third-quarter guidance.
  • Ittycheria will not be leaving the company entirely and will continue to serve on MongoDB's board of directors.

A Sudden End to a Transformative Era

In a surprising move that has caught the attention of investors and the tech industry, database software giant MongoDB announced that CEO Dev Ittycheria will step down after a highly successful 11-year run. Ittycheria, who was instrumental in taking the company public in 2017 and overseeing its rise to a nearly $30 billion market cap, will transition out of the top role on November 10, though he will retain a seat on the board.

The departure comes after Ittycheria informed the board he could not commit to another five-year term as CEO during routine succession planning discussions. “I thought long and hard about it, and I talked to my family, I talked to the board and ultimately realized I couldn’t make that kind of decision,” Ittycheria told CNBC.

Ittycheria’s Legacy of Growth

Under Ittycheria’s leadership, MongoDB’s stock has surged fifteenfold since its IPO, cementing its position as a major challenger to incumbents like Oracle. He successfully pivoted the company toward cloud subscriptions, forged critical partnerships with rivals Amazon and Microsoft, and expanded its software capabilities to embrace the generative AI boom.

New Leadership for a New Chapter

Taking the helm is Chirantan “CJ” Desai, an industry veteran who most recently served as the president of product and engineering at Cloudflare. Desai’s extensive resume includes leadership roles at ServiceNow, EMC, and Symantec, with his career beginning at Oracle.

Desai’s appointment comes after he resigned from ServiceNow in July 2024 following a policy violation related to a hiring decision. However, MongoDB’s board expressed strong confidence in his leadership. “We talked to people close to ServiceNow, as well as other people who know CJ really well, and we felt very, very comfortable that CJ is the right person to lead MongoDB in this next era,” Ittycheria stated.

The Vision Ahead

Desai has already set an ambitious goal for the company. "I’m looking forward to grow MongoDB to $5 billion-plus in a durable, profitable way, in revenues, and most importantly, to be the gold standard for modern database technology," he said, without providing a specific timeline.

Financial Stability Amidst Change

To quell any market uncertainty, MongoDB also announced positive financial news. The company expects to exceed the high end of its previous guidance for revenue and adjusted earnings per share in the upcoming fiscal third quarter. In its most recent quarter, MongoDB reported a 24% rise in revenue to $591 million while narrowing its net loss, demonstrating strong underlying momentum as it undergoes this significant leadership transition.

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