Kevin McGurn named interim CEO of Trump Media as Devin Nunes exits

Trump Media and Technology Corp., responsible for managing the social media network Truth Social, has appointed Kevin McGurn as the interim CEO, taking over from Devin Nunes.

McGurn, who has previously worked at T-Mobile USA, Vevo, and Hulu, has served as an advisor to the company since December 2024.

Nunes, once a congressman, has been CEO since the firm began. Apart from Truth Social, the company also manages the streaming platform Truth+ and the financial services brand Truth.Fi.

In March, TMTG posted a $712 million loss with a net revenue of $3.7 million. The firm's assets were reported at $2.6 billion.

The stock, identified by the symbol representing the president’s initials, DJT, ended at $9.82 on Tuesday, marking a 3.7% decrease.

Since Trump's reelection in 2024, the stock peaked at $40.03 on January 17, 2025.

In a statement, Donald Trump Jr. expressed, “I wish to express my gratitude to Devin Nunes for his committed service to the Company over the past four years, and extend congratulations to Kevin McGurn on his role as Interim CEO. Kevin brings substantial expertise in media, technology, and capital markets, alongside a comprehensive understanding of Trump Media's operations and strategic aims. His knowledge of the Company, combined with alignment with our leadership team, positions him uniquely to steer Trump Media through this critical time.”

Among other endeavors, the company has teamed up with Crypto.com and announced a merger with TAE Technologies, a fusion power enterprise, last year, with completion expected mid-2026.

In February, they unveiled plans for possibly spinning off businesses, including Truth Social.