George Buchanan, of Hodsock Priory, will be stepping into the role of chair while Helen Cope of Trans-Sport.TV in Treswell will be vice-chair.
George was a member of the North Notts BID steering group and became its first chair in 2017.
He has previously undertaken roles as chair of North Notts Envoys and was a board member for destination management organisation, Visit Nottinghamshire.
George said: “North Notts plays a big role in my life and having been part of the BID’s journey from inception I am delighted to be taking over the reins again as chair as we start preparing for our next ballot in June 2022.”
He replaces Royce Marshall, Retford (Gamston) Airport, who is stepping down from the position he has held since 2019, following its sale to automotive and aviation research, testing and training organisation Thatcham.
Royce said: “I am sad to be resigning as chair of North Notts BID, a position that I’ve been proud to hold throughout the majority of the BID’s first tenure.
"As I depart, I am glad to have supported the sale of the airport to Thatcham Research, which is a fantastic coup for the community and will create opportunities for local people and businesses for many years to come.”
Chief executive of North Notts BID, Sally Gillborn said she was “delighted” with the appointments.
"They are both inspirational business leaders in the North Nottinghamshire community in their own rights and understand the BID’s importance in showcasing the best of local businesses and driving community footfall," she said.
"We have the upmost confidence in them to oversee the BID’s proposal to secure, strengthen and showcase our district.
“I want to express my thanks to Royce for chairing the board over the past three years.
"His expertise and willingness to supporting local business growth meant he made a tremendous contribution to the BID’s success, particularly navigating through the challenges caused in recent times by the pandemic.
“As we conclude the first five-year term for North Notts BID, we are looking forward to our next ballot this coming June.
"The BID board is made up of passionate people from local businesses of all sizes and sectors, who give their time voluntarily.
"They are all dedicated to ensuring the BID team delivers a range of projects and services to help make North Notts an even better place to work, live and visit.”