Leadership shift at Truth Social’s parent company follows major losses and steep stock decline, with no official explanation for the transition.
By yourNEWS Media Newsroom
Trump Media & Technology Group announced Wednesday that Devin Nunes is no longer serving as chief executive officer of the company behind Truth Social, with leadership duties shifting to an interim replacement.
In a corporate statement, the company confirmed that adviser Kevin McGurn has been appointed interim CEO. The announcement did not specify the circumstances surrounding Nunes’ departure.
Donald Trump Jr., a member of the company’s board of directors, acknowledged the transition and praised both executives. “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,” Trump Jr. said. “Kevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Media’s operations and strategic priorities. His familiarity with the Company and alignment with our leadership team uniquely position him to guide Trump Media through this important period.”
The leadership change follows a challenging financial period for the company. According to its annual report, Trump Media recorded a net loss exceeding $712 million in 2025 while generating $3.7 million in revenue. The company’s stock performance has also declined significantly, dropping more than 75 percent since President Donald Trump’s second inauguration and closing at $9.82 on Tuesday.
In a message posted on Truth Social one day before the announcement, Nunes indicated the leadership change was planned and tied to the company’s broader trajectory. He said it was an “appropriate time” for McGurn to assume the role, citing the completion of the company’s initial objectives.
“Now, having achieved Trump Media’s original mission of giving the American people their voices back, and with the Company’s future secured through our strong balance sheet, it’s an appropriate time for Kevin McGurn, a Trump Media advisor with deep experience in media, mergers, and acquisitions, to take over the Company’s leadership and steer Trump Media through its current transition phase,” Nunes said. “This will allow me to focus more intently on my role as Chairman of the President’s Intelligence Advisory Board and on other ventures, knowing the company is in safe hands under Kevin’s stewardship.”
Nunes, a former California congressman, took over as CEO in 2021 after leaving Congress. His departure leaves McGurn in charge during a period marked by financial losses and operational transition for the company.
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