Top Execs Exit Trump Media Amid Allegations of CEO’s Mismanagement and Retaliation
by Robert Faturechi, Justin Elliott and Alex Mierjeski for ProPublica
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Several people involved with Trump Media believe the ousters are retaliation following what they describe as an anonymous “whistleblower” complaint regarding Nunes that went to the company’s board of directors.
The chief operating officer and chief product officer have left the company, along with at least two lower-level staffers, according to interviews, social media posts and communications between former staffers reviewed by ProPublica. The company, which runs the social media platform Truth Social, disclosed the departure of the chief operating officer in a securities filing Thursday afternoon.
ProPublica has not seen the whistleblower complaint. But several people with knowledge of the company said the concerns revolve around alleged mismanagement by Nunes. One person said they include allegations of misuse of funds, hiring of foreign contractors and interfering with product development.
“This story is the fifth consecutive piece in an increasingly absurd campaign by ProPublica, likely at the behest of political interest groups, to damage TMTG based on false and defamatory allegations and vague innuendo,” the statement said, adding that “TMTG strictly adheres to all laws and applicable regulations.”
Trump Media’s board comprises a set of powerful figures in Trump’s world, including his son Donald Trump Jr., former U.S. Trade Representative Robert Lighthizer and the businesswoman Linda McMahon, a major donor and current co-chair of Trump’s transition planning committee.
Nunes was named CEO of the company in 2021, with Trump hailing him as “a fighter and a leader” who “will make an excellent CEO.” As a member of Congress, Nunes was known as one of Trump’s staunchest loyalists.
After the internal allegations about Nunes were made at Trump Media, the company enlisted a lawyer to investigate and interview staffers, according to a person with knowledge of the company.
Then, last week, some employees who were interviewed by the lawyer were notified they were being pushed out, the person said. The employees being pushed out include a human relations director and a product designer, along with Chief Operating Officer Andrew Northwall and Chief Product Officer Sandro De Moraes. The person with knowledge of the company said Trump Media asked the employees to sign an agreement pledging not to make public claims of wrongdoing against the company in exchange for severance.
On Thursday afternoon, Northwall posted on Truth Social announcing he had “decided to resign from my role at Trump Media,” adding that he was “incredibly grateful” to Trump and Nunes “for this opportunity.”
“As I step back, I look forward to focusing more on my family and returning to my entrepreneurial journey,” the statement said.
De Moraes now identifies himself on his Truth Social bio as the “Former Chief Product Officer” of the company.
Some word of the departures became public earlier this week when former Trump Media employee Alex Gleason said in a social media post that “Truth Social in shambles. Many more people fired.”
Trump personally owns nearly 60% of the company. That stake, even after a recent decline in the company’s stock price, is worth nearly $2 billion on paper, a significant chunk of Trump’s fortune. He said last month he was not planning to sell his shares. What role Trump plays, if any, in the day-to-day operations of the company is not clear.
Since it launched in 2021, the company has become a speculation-fueled meme stock, but its actual business has generated virtually no revenue and Truth Social has not emerged as a serious competitor to the major social media platforms.
Among Nunes’ moves as CEO, as ProPublica has reported, was inking a large streaming TV deal with several obscure firms, including one controlled by a major political donor. He also traveled to the Balkans over the summer and met with the prime minister of North Macedonia, a trip whose purpose was never publicly explained by the company.
Trump Media has a formal whistleblower policy, adopted when the company went public in March, that encourages employees to report illegal activity and other “business conduct that damages the Company’s good name” and business interests.
Do you have any information about Trump Media that we should know? Robert Faturechi can be reached by email at robert.faturechi@propublica.org and by Signal or WhatsApp at 213-271-7217. Justin Elliott can be reached by email at justin@propublica.org or by Signal or WhatsApp at 774-826-6240.
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