Ex-GOP Representative Devin Nunes Unexpectedly Leaves Position as CEO of Truth Social’s Parent Company

Devin Nunes Steps Down as CEO of Trump Media

Trump Media & Technology Group, the parent company of Truth Social, announced on Wednesday that former Congressman Devin Nunes will be resigning from his role as CEO. The announcement noted that Kevin McGahn, an advisor to the company, will take over as interim CEO. However, specifics on why Nunes is leaving were not provided.

“I would like to thank Kevin McGahn for his dedicated service to our company over the past four years and congratulate him on his appointment as interim CEO,” Donald Trump Jr., a board member, stated. He praised McGahn’s extensive experience in media and technology, emphasizing that his understanding of Trump Media’s operations makes him well-suited for the position during this challenging time.

Nunes’ departure comes shortly after the company revealed a hefty net loss of over $712 million last year, paired with a mere $3.7 million in revenue. Additionally, Trump’s media venture has faced significant stock declines, plummeting over 75% since the beginning of Trump’s second term and closing at $9.82 recently.

In a post on Truth Social, Nunes remarked that he believes it is the “right time” for McGahn to take the lead, especially after McGahn successfully completed his mission. Nunes stepped into the CEO role after leaving Congress in 2021.

He added, “With Trump Media’s original mission of restoring a voice to the American people, and the company’s future secured, now is the right moment for Kevin to guide us through this transition. This change will allow me to focus more on my responsibilities as chairman of the President’s Intelligence Advisory Board and my other business interests, reassured that the company is in good hands.”