Former Republican Rep. Devin Nunes out as Trump Media CEO
In a big change, former Rep. Devin Nunes has stepped down as CEO of President Donald Trump’s social media company.
Trump Media & Technology Group, the parent company of Truth Social, whose largest shareholder is Trump, said: in a statement On Tuesday, it was announced that Nunes will be replaced by corporate counsel Kevin McGurn and will take over as the company’s interim CEO, effective immediately. He did not provide a reason for Nunes’ unexpected departure.
“I want to thank Devin Nunes for his dedicated service to the Company over the past four years and congratulate Kevin McGurn on his appointment as Interim CEO,” said Donald Trump Jr., who sits on the company’s board of directors and oversees a foundation that holds his father’s shares in the company. “Kevin brings deep experience in media, technology and capital markets, as well as a strong understanding of Trump Media’s operations and strategic priorities.”
The overhaul of top executives comes after years of repeated losses at Trump Media, which was once tipped as a conservative rival to Silicon Valley giants and the next jewel of Trump’s vast business empire. company registered Net loss of more than $712 million and revenue of $3.7 million in 2025. Trump Media shares also suffered during this period. The stock, traded under the ticker symbol “DJT,” closed at $9.82 on Tuesday; This represents a decline of more than 75 percent since Trump took office.
Trump Media, known for Truth Social, the president’s preferred online megaphone and a critical source of advertising revenue for the company, announced a series of pivots last year to grow its business.
This includes everything cryptocurrencies And prediction markets The company announced in December that it had made a deal worth more than $6 billion in traditional financial products. merge With fusion company TAE Technologies. And earlier this year Trump Media said it was considering is turning After the TAE agreement was completed, Truth Social became a separate company.
Nunes, a staunch Trump ally, has led the company since leaving Congress to take the CEO job in 2021. Inside An article on Truth SocialHe wrote that it was “an opportune time” for McGurn to take over as CEO and “guide Trump Media into its current transition phase.”
His exit is the third among Trump Media’s top executives in recent weeks.
Eric Swider, who helped take the company public resigned from the board this month and Robert Lighthizer, who served as U.S. Trade Representative during Trump’s first term. did the same In March. The company said neither departure was due to “any disagreement with management or the Board.”
