Yorkshire Forward has promoted its executive director of economic inclusion Thea Stein to be its new chief executive, for an initial period of 12 months from 1 July.
She joined the regional development agency in 2006 after a career in the public sector.
"There is no doubt that this is a challenging time for the organisation and the region and that there are difficult decisions ahead of us," she said.
"However, I am confident that, together with our local authorities, businesses and other stakeholders, we will find the most effective and efficient approach to ensure the best possible economic future for Yorkshire and Humber."
She will replace Tom Riordan who is leaving to become chief executive of Leeds City Council.
"She is clearly the right candidate for this job, bringing invaluable experience of the unique role of a CEO, current and detailed knowledge of this organisation and extensive work with partners across the region," he said.
"This will be essential when managing what will continue to be a rapidly changing environment, both for the economy and for the organisation."
