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 the 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.
In January, Millennial Media cofounder Paul Palmieri left the company.-30-
‘We’re all figuring it out as we go along’: Reddit cofounder Alexis Ohanian on what he learned from failure
Mental health startup Rose brings tech tools to Baltimore Neighbors Network connecting volunteers and seniors
Small businesses: When making the pivot, it’s a matter of money and mentality
Traitify raises $12M Series B to grow personality assessments for recruiting
Sign-up for daily news updates from Technical.ly Baltimore