Detroit Bear
Deep value, special situations, long-term horizon, value

New CEO, New Story At Millennial Media

I cannot imagine many things more humiliating than seeing shares of the company you founded rally on news of your departure. However, that is exactly what happened when Millennial Media's (NYSE:MM) founder and CEO Paul Palmieri stepped down. Shares rallied nearly 10%, and I, like the market, believe the future for Millennial Media looks much brighter.

What was Wrong with Palmieri?

One must look no further than Glassdoor to discover why the market is pleased with Palmieri's departure.

(click to enlarge)

Source: Glassdoor

The aggregate rating from internal employees for senior management is 2.3 out of 5 stars-not exactly a stunning endorsement. Several call for management to resign, and many, like the above reviewer, predict Millennial will...

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