Trump Media & Technology Group, the parent company of Truth Social, announced Wednesday that former Republican California Rep. Devin Nunes no longer serves as CEO.
The company said in a statement that Nunes will be replaced by Kevin McGurn, an adviser at the company, as interim CEO. The statement did not offer an explanation for why Nunes no longer serves in the role.
“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 Board of Directors. “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.”
Devin Nunes is out as CEO of Trump Media, which took in just $3.7 million in revenue last year and lost $712 million even as its stock price has fallen by more than 80%. @MattGoldstein26 https://t.co/EjU8FBVQU7
— Peter Baker (@peterbakernyt) April 22, 2026
Nunes’ departure comes after the company’s net loss of over $712 million and revenues of $3.7 million in 2025, according to its annual report. The company’s stock also declined by more than 75 percent on Tuesday since Trump’s second inauguration, closing at $9.82 on Tuesday.
In a Truth Social post from Tuesday, Nunes said it was an “appropriate time” for McGurn to take over after he achieved his mission at the company. He became CEO after stepping down from Congress in 2021.
“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 did not immediately respond to the Daily Caller News Foundation’s request for comment.
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