Devin Nunes resigns as Trump Media CEO

The departure of Devin Nunes comes as Trump Media's stock price continues to tumble, wiping out billions in investor wealth over the past year.

Nunes, a former congressman and staunch ally of President Trump, had led the company since its inception but struggled to achieve profitability amid rising competition and regulatory hurdles.

Donald Trump Jr. has expressed confidence in McGurn's ability to guide the firm through this challenging period.

The leadership shakeup reflects deepening concerns about the long-term viability of the president's primary social media platform.