The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker “DJT”, in New York City, U.S., March 26, 2024. REUTERS
Reuters – Trump Media & Technology Group said on Friday that Eric Swider, a key figure in the company’s public listing, had resigned from its board.
Swider was the CEO of the blank-check acquisition company behind Trump Media’s public listing in 2024, guiding it through a delayed merger due to regulatory scrutiny.
The blank-check firm, Digital World Acquisition Corp, settled fraud charges with the U.S. securities regulator in 2023 over allegations that it misled investors by failing to disclose in filings that it had planned to acquire Trump Media and pursued the deal before its initial public offering.
Swider’s resignation was not linked to any dispute with management or the board, Trump Media said.
Trump Media & Technology Group, known for its Truth Social platform, has faced challenges in scaling its media business amid competition from larger social networks and uneven user growth.
U.S. President Donald Trump frequently uses Truth Social to make major political and personal announcements, such as his 2024 presidential campaign, and the U.S. and Israel’s coordinated strikes against Iran.
Reporting by Dharna Bafna and Harshita Mary Varghese in Bengaluru; Editing by Leroy Leo
