Trump Media & Technology Group, the parent company of the conservative social media platform Truth Social, announced Wednesday that former Republican California Rep. Devin Nunes has stepped down as chief executive officer.
According to the Daily Caller, the company disclosed that Nunes will be succeeded on an interim basis by Kevin McGurn, a current adviser to the firm. The brief corporate statement did not specify why Nunes is leaving the top post, a notable omission given the companys recent financial turbulence.
Donald Trump Jr., who serves on the Board of Directors, publicly praised both the outgoing and incoming executives in a statement released by the company. 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, adding, Kevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Medias 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.
Nunes exit follows a difficult year for Trump Media, which reported a net loss exceeding $712 million against revenues of just $3.7 million in 2025, according to its annual report. The companys stock has also come under heavy pressure, falling more than 75 percent since President Donald Trumps second inauguration and closing at $9.82 on Tuesday.
In a Truth Social post on Tuesday, Nunes framed the transition as a natural next step after fulfilling the platforms founding objective. He wrote that it was an appropriate time for McGurn to assume control after he had achieved his mission at the company, having taken the CEO role in 2021 after resigning from Congress.
Now, having achieved Trump Medias original mission of giving the American people their voices back, and with the Companys future secured through our strong balance sheet, its an appropriate time for Kevin McGurn, a Trump Media advisor with deep experience in media, mergers, and acquisitions, to take over the Companys 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 Presidents Intelligence Advisory Board and on other ventures, knowing the company is in safe hands under Kevins stewardship.
Nunes, a longtime ally of President Trump and a prominent critic of establishment media and intelligence abuses, did not immediately respond to the Daily Caller News Foundations request for comment. His move to concentrate on national security advisory work and private ventures underscores how key Trump loyalists continue to shape policy and media from outside traditional government channels, even as Trump Media navigates the challenges of competing with Big Tech and the broader market.
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