Trump Media Names Kevin McGurn as Interim CEO Following Nunes Departure

Trump Media & Technology Group has appointed Kevin McGurn as its interim CEO following Devin Nunes's resignation, according to multiple reports. Nunes stepped down amid ongoing financial struggles, including a 67% stock collapse that erased over $6 billion of investor wealth. The shares of the company behind Truth Social fell from $58 to $9.82 per share since March 2024, reflecting significant market volatility.

The company's losses have been substantial, with Fast Company reporting financial deficits exceeding $1.1 billion since its public debut and Fox Business noting a net loss of over $712 million in 2025 alone. These financial difficulties coincide with the departure of several board members and unresolved merger negotiations, as detailed by The New Republic, which cites merger uncertainty as a key factor in leadership changes.

Kevin McGurn, the new interim CEO, has been with Trump Media since December 2024 as an advisor and brings prior executive experience from companies such as Hulu, Vevo, and T-Mobile USA, according to Deadline and Variety. His appointment aims to maintain leadership continuity as the company attempts to stabilize and expand its digital and financial service offerings amidst tough market conditions.

Devin Nunes, a former California congressman who had helmed the company since its founding, is shifting his focus to other roles, including chairing the President’s Intelligence Advisory Board, Fox Business reports. Under Nunes's tenure, Trump Media sought to diversify into cryptocurrency and prediction markets, though these efforts have yet to reverse the company’s downward share price trajectory.

Moving forward, the company's potential mergers and strategic pivots will be critical to its recovery, as investors watch how McGurn navigates the deepening financial challenges and competitive pressures within the social media and digital services landscape. The outcome of these efforts will likely influence whether Trump Media can regain stability and growth in a rapidly evolving market.