Devin Nunes Resigns from Trump Media

Devin Nunes, the former congressman and staunch ally of President Trump, has resigned as the head of Trump Media.

His departure follows a period of significant financial distress for the company, which has lost more than $1 billion since going public two years ago.

Kevin McGurn will take over as interim CEO to guide the social media platform through a critical period of reorganization.

The move comes as Truth Social faces increasing competition and a 58% drop in its share price over the past 12 months.