Former Rep. Devin Nunes is out as CEO of President Donald Trump’s social media company, in a major shake-up.
Trump Media & Technology Group, the Truth Social parent company whose largest shareholder is Trump, said in a statement Tuesday that Nunes would be succeeded by Kevin McGurn, an adviser to the company, who will take over as interim CEO effective immediately. It did not offer 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 and oversees a trust holding his father’s shares in the company. “Kevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Media’s operations and strategic priorities.”
The C-suite overhaul lands after years of repeated losses at Trump Media, a company that was once billed as a conservative challenger to Silicon Valley giants and the next gem in Trump’s vast business empire. The company recorded a net loss of more than $712 million and revenues of $3.7 million in 2025. Trump Media shares have struggled all the while as well. The stock, which trades under the ticker “DJT,” closed at $9.82 on Tuesday — marking a more than 75 percent decline since Trump’s inauguration.
Best known for Truth Social, the president’s preferred online megaphone and a critical source of advertising dollars for the company, Trump Media has announced a series of pivots over the last year in a push to expand its business.
That includes into everything from cryptocurrencies and the prediction markets to traditional financial products. The company unveiled a more than $6 billion deal in December to merge with fusion company TAE Technologies. And earlier this year, Trump Media said it was considering spinning off Truth Social into a separate company after the TAE deal closes.
Nunes, a staunch Trump ally, has led the company since stepping down from Congress in 2021 to take the CEO job. In a post on Truth Social, he wrote that it was “an appropriate time” for McGurn to take over as CEO and “steer Trump Media through its current transition phase.”
His exit is the third among Trump Media’s senior ranks in recent weeks.
Eric Swider, who helped bring the company public, resigned from the board this month, and Robert Lighthizer, who served as Trump’s U.S. Trade Representative during his first term, did the same in March. The company said at the time of reporting both departures that neither were due to any “dispute with management or the Board.”
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