Trump Media taps interim CEO as Devin Nunes steps aside
Trump Media & Technology Group on Tuesday named an interim chief executive as Devin Nunes stepped aside, marking a leadership transition at the parent of Truth Social following recent board departures and steep financial losses in 2025.
The company appointed longtime advisor Kevin McGurn as interim CEO effective immediately, succeeding Nunes, who has led the company since 2022. McGurn brings more than two decades of experience across media, telecommunications and advertising technology, according to the company.
"It is an honor to step into the role of Interim Chief Executive Officer at this important moment for Trump Media & Technology Group," McGurn told FOX Business. "Having worked closely with the team over the past several months, I have developed a strong appreciation for the Company’s mission, its platforms, and its significant growth opportunities."
The leadership shift comes as Trump Media continues to report significant losses relative to its revenue. The company posted a net loss of more than $712 million in 2025 – on roughly $3.7 million in revenue, according to its annual filing with the Securities and Exchange Commission.
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Financial disclosures show expenses far outpaced revenue, including more than $576 million in operating costs. A substantial portion of the losses was tied to write-downs and losses related to digital assets, highlighting the company’s exposure to volatile investment areas.
"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., a board member, said in a statement.
Nunes said the transition comes as the company enters a new phase, adding it was "an appropriate time" for McGurn to take over leadership while he shifts focus to other roles, including serving as chairman of the president’s Intelligence Advisory Board.
"I look forward to building on the strong foundation established by the team, ensuring a smooth leadership transition, executing on our strategic priorities, and positioning our media assets for their next phase of growth," McGurn also told FOX Business. "I am committed to delivering long-term value for shareholders while continuing to strengthen and scale the Truth Social and Truth+ platforms."
The leadership change follows a series of recent board departures disclosed in regulatory filings. Former U.S. Trade Representative Robert Lighthizer resigned from the board in March, and director Eric Swider stepped down earlier this month. The company said in both cases the exits were not due to any dispute with management.
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Trump Media, which operates the Truth Social platform along with its streaming service Truth+ and fintech brand Truth.Fi, has sought to expand beyond social media into areas including financial services and digital assets as it looks to grow its business.
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The company has framed the leadership transition as part of its next phase, with McGurn expected to guide operations and strategic initiatives moving forward.