Trump Media & Technology Group on Tuesday named Kevin McGurn interim chief executive, replacing Devin Nunes in a leadership change at the parent company of Truth Social.
McGurn, a longtime adviser to the company, took the role effective immediately. Trump Media said he has more than two decades of experience in media, telecommunications, and advertising technology. Nunes had led the company since 2022.
The company announced the change after reporting steep losses in 2025.
The filing showed more than $576 million in operating costs. It also said a significant share of the losses was tied to write-downs and losses related to digital assets.
“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 came as the company entered a new phase and that it was “an appropriate time” for McGurn to take over while he shifted focus to other roles, including serving as chairman of the president’s Intelligence Advisory Board.
The move followed recent board departures disclosed in regulatory filings. Former U.S. Trade Representative Robert Lighthizer resigned in March, and director Eric Swider stepped down earlier this month. Trump Media said in both cases that the departures were not due to disputes with management.
Trump Media operates Truth Social, streaming service Truth+, and fintech brand Truth.Fi. The company has said it is expanding beyond social media into financial services and digital assets.