Apple has hired former Adobe and Quantcast exec Todd Teresi to run its iAd mobile ad network, according to Bloomberg. Mr. Teresi will report to Apple Senior VP-Internet Services Eddie Cue and replaces Andy Miller, who left for Boston-based Highland Capital last summer.
Mr. Teresi spent many years at Yahoo, and ultimately led its third-party publisher network, before joining Quantcast as chief revenue officer. Last spring, Mr. Teresi joined Adobe, which has been building up its own ad-technology business through acquisitions of Auditude and Efficient Frontier.
Apple launched iAd soon after acquiring Quattro Wireless in 2010 for $274 million. Initially, it asked advertisers to spend at least $1 million to run an iAd campaign and dozens of marketers tried it out, in part to be in business with Apple and to experiment with new formats such as the iPad. Apple exerted tight control over the creative and some advertisers complained about a lack of data in return.
As Apple has asked advertisers to renew, it has had to cut pricing, particularly in the face of lower-priced rivals at Google and Greystripe, which was acquired by ValueClick last spring. It also hired some agency veterans including MEC's Carrie Frolich to smooth relationships with brands and agencies.
Mr. Teresi is a rare sales exec in that he lives in Silicon Valley, but has deep relationships on Madison Avenue, which is to say, he spends most of his time on planes. He did not return calls for comment, which may mean he's now subject to Apple's rules about talking to the press.