Bloomberg is reporting that Todd Teresi, who was vice president of Adobe's media solutions group, has moved to Apple to lead its iAd mobile-advertising business. Teresi will reportedly be working for Eddy Cue, Apple's senior vice president who also oversees Apple's iTunes and the App Store.
The report cited three people with knowledge of the matter, saying that Teresi has already started at Apple as vice president of iAd. As such he fills a role in an area where Bloomberg says the company has struggled. iAd, introduced in 2010, is a revenue generation program from mobile-advertising that was also promoted as a way for application developers to make money.
The original pitch from Apple described the venture as combining "the emotion of TV advertising with the interactivity of Internet advertising, giving advertisers a dynamic and powerful new way to bring motion and emotion to mobile users."
Jodi Sorensen, a spokeswoman for Adobe, confirmed to Bloomberg that Teresi, a former senior vice president at Yahoo!, is no longer at the company. Teresi managed Adobe's Digital Publishing Suite software and was involved in making deals in this market last year, including Adobe's partnership with WoodWing Software and the acquisition of Auditude.
Bloomberg noted that Apple trails Google in the mobile advertising market and reports that, while the system has attracted ads from companies such as Walt Disney, some marketers have complained that iAd costs more than other ad services and only works on Apple devices.
The news comes after speculation about an Apple event taking place later this month, over which Eddy Cue is expected to preside.