Apple has promoted Eddy Cue to the head of its iAd business, according to a leaked memo from CEO Tim Cook obtained by 9to5 Mac.Before, he was Apple’s iTunes boss. His new, official title will be Senior Vice President of Internet Software and Services.
Apple has already updated its executive bio page to reflect the move.
This also marks Cook’s first major executive promotion since taking control of Apple after Steve Jobs resigned last week.
Here’s the copy of Cook’s memo:
Team, It is my pleasure to announce the promotion of Eddy Cue to Senior Vice President of Internet Software and Services. Eddy will report to me and will serve on Apple’s executive management team.
Eddy oversees Apple’s industry-leading content stores including the iTunes Store, the revolutionary App Store and the iBookstore, as well as iAd and Apple’s innovative iCloud services.
He is a 22-year Apple veteran and leads a large organisation of amazing people. He played a major role in creating the Apple online store in 1998, the iTunes Music Store in 2003 and the App Store in 2008.
Apple is a company and culture unlike any other in the world and leaders like Eddy get that. Apple is in their blood. Eddy and the entire executive management team are dedicated to making the best products in the world that delight our customers and make our employees incredibly proud of what they do.
Please join me in congratulating Eddy on this significant and well-deserved promotion. I have worked with Eddy for many years and look forward to working with him even closer in the future.
Cue will be the replacement to former iAd boss Andy Miller, who left Apple on August 17 to become a partner at Highland Capital.
Apple has been pretty quiet about how its iAd business has been doing. At first it charged companies $1 million to run an iAd. Brands didn’t bite, so Apple slashed the cost to $500 million or less.
In fact, Apple hasn’t said much about the business since its introduction in Spring 2010.