Devin Nunes was ousted from his role as CEO of Trump Media, the owner of Truth Social, after years of suffering financial losses.
In a press release, Trump Media announced that Kevin McGurn would replace Nunes as Interim CEO for the time being. Donald Trump Jr., a company board member, thanked Nunes on behalf of the Board of Directors, though he didn’t give a reason as to why he was let go.
“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 said in a statement. “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.”
Nunes released a lengthy statement of his own on Truth Social, touting his accomplishments at the company and in his political career. He said his departure would allow him to focus on his position as the Chairman of Trump’s Intelligence Advisory Board.
“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,” he said.
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Trump Media has suffered blistering financial losses since going public in 2024. Its stock was trading at roughly $58 a share on its first day of trading, and closed on Tuesday at just $9.82. In 2025, it suffered a $712 million net loss, reporting just $3.7 million in revenue.
McGurn has extensive experience in the media industry, having been a former executive at the streaming giant Hulu.