Business

May. 9, 2014 9:15 am

Millennial Media CFO Michael Avon to depart in June

Millennial Media got a huge investment from die-hard believers.

(File photo)

Michael Avon of Canton-based global mobile ad company Millennial Media will be stepping down as CFO of the company in June.

He had been in that position since 2009, and shepherded Millennial Media through its initial public offering in 2012.

The news comes at the same time that Millennial Media’s shares dropped 40 percent. According to theĀ Baltimore Sun:

Millennial lost $12.9 million on $72.6 million in sales in the three months ended March 31, compared with a $3.8 million loss on $49.4 million in sales in the same quarter of last year.

Read the full story at the Baltimore Sun.

In January, Millennial Media cofounder Paul Palmieri left the company.

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