Walkinshaw, who also heads the Arrows Formula One motor racing team, has been elected to replace Donald Kerr, who had notified English First Division Rugby that he wished to step down.

He will also be one of four EFDR representatives on the English Rugby Partnership Board, along with Saracens owner Nigel Wray, Leicester chief executive Peter Wheeler and Newcastle chief Ken Nottage.

Walkinshaw headed a four-man team which negotiated the Mayfair Agreement, which put an end to three years of wrangling between the clubs and the Rugby Football Union.

"My main priority is to build on the good work already done by Donald to create a new structure for English rugby and ensure the game's future prosperity," he said.

Walkinshaw bought Gloucester for £2.3m in April 1997, adding the club to a sporting empire worth around £300m.