Sarah Sillars, former chief executive of the IMI, has been made executive chair in a restructure at the Institute.
The move will see her take responsibility for implementing the IMIâ€™s business plans and overseeing the financial security of the organisation.
Sillars, who was recently appointed to the BEN board, will also continue to lead the ambassadorial role of the IMI within the industry.
In other moves, Professor Garel Rhys has stepped down as president to become a vice-president. He is replaced by former chairman and aftersales director of BMW in the UK Steve Nash.
Day-to-day management will now be the responsibility of chief operating officer Linda Stansfield and group finance director Edith Yembra. They will both report to Sarah Sillars
The restructure comes after the Government announced its decision to renew the license of the IMI as the Sector Skills Council for the automotive retail sector earlier in November.
In particular, the IMI was praised for the work it has done developing the Automotive Technician Accreditation scheme.
It was also recognised for rebuilding the credibility of the SSC with employers after taking on the then beleaguered Automotive Skills in 2007.
Automotive Skills Ltd was originally granted the SSC status but ran into financial difficulties after an employee, James Munroe, who was financial and corporate services manager, was convicted of stealing Â£400,000 from the organisation over two years to fund a lavish lifestyle.
He turned out to have had form, holding a previous conviction for embezzling some Â£3m from a former employer.
Commenting on the news of the relicensing, Paul Everitt, SMMT chief, said: â€œIt is vital that the automotive industry has its own Sector Skills Council and we consider it a significant industry achievement that the IMI has been successfully relicensed.â€
IMI president Steve Nash, added: â€œThis news means that the IMI can continue to work with employers and individuals to focus on delivering a better skilled and recognised workforce.â€
The IMI will now drop the Automotive Skills name and brand.