Apple's iAd boss heading for new role at venture capital firm

Report suggests former Quattro boss is taking new role at Highland Capital.

Apple must start the hunt for a new boss for its iAd network, as it has emerged that current VP of mobile advertising Andy Miller is leaving the company to join VC firm Highland Capital as a general partner.

All Things Digital reported the news, suggesting that Miller's previous links with Highland Capital - it was one of the investors in his company Quattro Wireless before it was sold to Apple - are one reason for his move.

Neither Apple nor Highland have confirmed the news at the time of writing.

iAd was unveiled in April 2010 by Apple, as the company promised to revolutionise mobile advertising in characteristically bullish style. Since then, the network has attracted an array of big brands, but has also faced reports that the cost of running campaigns has put others off piling into the platform.

iAd also faces strong competition from other mobile ad networks, including straight rivals like AdMob and Millennial Media, but also newer forms of offer-based advertising from companies like Tapjoy.