Key Takeaways:
- Interim Leadership Change: Former Hulu and Vevo executive Kevin McGurn has replaced Devin Nunes as CEO to guide the company’s transition.
- Significant Financial Decline: The company reported a $712 million loss in 2025, with stock prices dropping 75% since the inauguration.
- Aggressive Pivot Strategy: Trump Media plans to diversify through a $6 billion fusion energy merger and expansion into cryptocurrency and financial products.
Trump Media & Technology Group on Tuesday replaced former Republican congressman Devin Nunes as chief executive officer, naming company adviser Kevin McGurn interim CEO as the company faces heavy losses, weak revenue, and a falling stock price.
Leadership Change Comes Amid Financial Struggles
Trump Media, the parent company of Truth Social, said McGurn will take over immediately after Nunes led the company for four years. The company did not give a reason for Nunes’ departure.
McGurn has advised Trump Media since December 2024 and will oversee its social media, streaming, and mergers and acquisitions businesses.
“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,” Donald Trump Jr. said in a statement.
Trump Jr., who serves on the company’s board and oversees a trust holding President Donald Trump’s shares, said McGurn brings “deep experience across media, technology, and capital markets.”
Devin Nunes, who left Congress in 2021 to lead Trump Media, said in a post on Truth Social that it was “an appropriate time” for McGurn to take over and guide the company through its transition period. He said the move would allow him to focus on his role as chairman of the President’s Intelligence Advisory Board and other ventures.
Company Faces Losses And Falling Stock Price
The executive shake-up comes after years of financial losses and declining investor confidence at Trump Media.
The company reported a net loss of more than $712 million in 2025 on revenue of $3.7 million. Its stock, which trades under the ticker DJT, closed Tuesday at $9.82, down more than 75 percent since Trump’s inauguration.
Trump Media was launched as a conservative alternative to major technology companies after Trump was banned from several social media platforms following the Jan. 6 Capitol riot. Truth Social remains the company’s flagship product and Trump’s primary platform for political and personal announcements.
The company has struggled to grow its user base and compete with larger social media companies. In recent months, it has tried to expand into new businesses, including cryptocurrency, prediction markets, and financial products.
Trump Media Pushes New Business Plans
Trump Media has announced several major business moves over the past year as it seeks new revenue streams.
In December, the company unveiled a deal valued at more than $6 billion to merge with TAE Technologies, a fusion energy company backed by Google. Trump Media has also said it may spin off Truth Social into a separate company after that deal closes.
Kevin McGurn, a former executive at Hulu, Vevo, and T-Mobile, is expected to guide the company through those plans. He has more than two decades of experience in digital media, streaming, telecommunications, and advertising technology.
Nunes’ departure is the third senior-level exit at Trump Media in recent weeks. Board member Eric Swider resigned earlier this month, while former U.S. Trade Representative Robert Lighthizer stepped down in March. The company said neither departure was related to disputes with management or the board.
