Devin Nunes exits Trump Media

Devin Nunes is out as chief executive of Trump Media, the parent company of Truth Social, and adviser Kevin McGurn has been named interim CEO effective immediately. (politico.com) Trump Media announced the change on April 21 and did not give a reason for Nunes’ departure or a timetable for naming a permanent replacement. McGurn previously worked at T-Mobile USA, Hulu and Vevo, according to reports on the appointment. (abcnews.com) (deadline.com) The leadership change lands after another year of heavy losses. Trump Media reported a $712.2 million net loss for 2024 in its annual report filed with the Securities and Exchange Commission, after posting $3.6 million in revenue for the year. (sec.gov) The stock has also sunk far below its early post-merger peak. DJT traded at about $9.74 on April 22, 2026, down roughly 88 percent from its March 26, 2024 close of $79.38, according to market data. (google.com) Trump Media became a public company in March 2024 through its merger with Digital World Acquisition Corp., the blank-check company that spent more than two years trying to complete the deal under regulatory scrutiny. Eric Swider, the Digital World chief executive who helped steer that listing, resigned from Trump Media’s board effective April 6, 2026. (sec.gov) (reuters.com) Another board turnover came a month earlier. Robert Lighthizer, the former United States trade representative, resigned from Trump Media’s board effective March 6, 2026, according to an SEC filing. (sec.gov) Nunes, a former Republican congressman from California, had led Trump Media since late 2021 and became one of the company’s most visible defenders through the merger, the public listing and repeated questions about its finances. (politico.com) The company still centers its business around Truth Social, but investors have long focused on its political ties and Donald Trump’s majority stake as much as its underlying revenue. Tuesday’s management change leaves McGurn running a company with a multibillion-dollar market value and a shrinking share price. (yahoo.com) (abcnews.com)