Trump Media CEO Shakeup

Trump Media replaced Chief Executive Officer Devin Nunes with interim chief Kevin McGurn on April 21, after a long slide in the company’s stock. (financialcontent.com) McGurn, a former Hulu, Vevo and T-Mobile executive who had advised the company since December 2024, took over immediately. Trump Media said he will oversee its social media, streaming and mergers-and-acquisitions plans. (financialcontent.com) The company did not give a reason for Nunes’ departure or say when it would name a permanent replacement. Nunes later said on Truth Social that it was “an appropriate time” for McGurn to lead the company through a “transition phase.” (politico.com) Trump Media’s shares closed at $9.82 on April 21, down 3.7% that day and down 67% from the run-up before Donald Trump’s November 2024 reelection, according to wire-service and market data. That decline erased more than $6 billion in investor value. (click2houston.com) (finviz.com) The drop came even as Trump returned to the White House and kept using Truth Social as his main online platform. Trump Media’s stock has traded less like a normal media company and more like a political sentiment bet tied to Trump himself. (politico.com) (deadline.com) The business underneath the stock has remained small. Trump Media reported $3.7 million in 2025 revenue and a $712.3 million net loss, though it also said it ended the year with about $2.5 billion in financial assets and positive operating cash flow of $14.8 million. (s3.amazonaws.com) That gap helps explain the pressure on management. Investors had once priced Trump Media as a fast-growing conservative media challenger, but recent filings show a company trying to expand from Truth Social into streaming, financial products and digital assets. (politico.com) (financialcontent.com) The leadership change also followed board turnover. Securities and Exchange Commission records show director Eric Swider resigned effective April 6, and Politico reported former U.S. Trade Representative Robert Lighthizer left the board in March. (sec.gov) (politico.com) Nunes, a former Republican congressman from California, had run Trump Media since late 2021 and led it through its March 2024 public listing. McGurn now inherits a company whose ticker is still DJT, but whose next test is whether it can turn Trump’s political reach into a steadier business. (politico.com) (financialcontent.com)