Jan. 4 (Bloomberg) -- Apple Inc. hired Adobe Systems Inc. executive Todd Teresi to be the new head of its iAd mobile- advertising unit, three people with knowledge of the hire said.
Teresi, who was vice president of Adobe’s media solutions group, has already started at Apple, said the people, who declined to be identified because the hire hasn’t been announced.
The iAd business has been cutting prices to keep customers from jumping ship to rivals, including Google Inc. Apple has struggled to parlay its leadership in consumer electronics into success in advertising.
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