Wood joined Future plc's board as a non-executive director in April 2009. He will step down from the board and take up his new post on 31 August 2010, a statement from the group has confirmed. He replaces Robert Price, who announced his departure in May.
A former Reuters journalist and editor-in-chief, Wood served on the Reuters plc board and was chief executive of ITN from 2003 to 2009.
"Mark's outstanding track record in the media bridges both the commercial and the editorial and he has a wealth of experience: in broadcast, print and online. Content creation and curation is at the heart of Future's business and Mark is one of the UK's most experienced and talented leaders of content-focused companies," says Stevie Spring, Future's group chief executive, in the release.
The group, which publishes titles including Total Film and Metal Hammer, reported £71.4 million in total revenue for the half-year to 31 March 2010, a drop from £76.6 million from the same period in 2009.
Earlier this month the Audit Bureau of Circulations (ABC) reported circulation figures for three Future titles for the first six months of 2010. Total Film posted an average net circulation per issue of 76,088, down 6.1 per cent from the previous six months; Classic Rock saw a drop in circulation of 1.3 per cent for the same period to 70,323; while Metal Hammer's circulation rose by 5.4 per cent to 44,034 for the period when compared with figures for the end of 2009.