- Devin Nunes has been removed as CEO of Trump Media & Technology Group, the parent company of Truth Social, with advisor Kevin McGurn appointed as interim CEO effective immediately.
- The company did not provide a reason for Nunes's abrupt exit, though Nunes stated it was an "appropriate time" for McGurn to take over and allow him to focus on his role as Chairman of the President’s Intelligence Advisory Board.
- TMTG's stock dropped 67% after initially soaring shortly before Trump's re-election in November 2024, wiping out over $6 billion in investor value. The company reported a net loss of more than $712 million in 2025, accumulating over $1.1 billion in losses since going public two years ago.
- Nunes, who left Congress in 2021 to take on the CEO role, was paid $47 million by the company in 2024.
- His departure is the third high-profile exit from Trump Media's leadership in recent weeks, following Eric Swider's resignation from the board and Robert Lighthizer's departure in March.
IN FULL