The leader of the North East's regional development agency has agreed to stay on in the post for an extra year due to the current economic climate.
Business Secretary Lord Mandelson made the announcement on Tuesday.
Margaret Fay will remain as Chairman of One North East to help guide the agency and the region through the current economic downturn.
Mrs Fay OBE had been due to leave the post in December 2009 but has agreed to stay on for another year.
Lord Mandelson said: "At this critical time for the economy I want to see continuity at the top of the regional development agency's.
"I thank the Chairs for agreeing to stay on. We need all their experience right now."
Mrs Fay was appointed Chairman of One North East in 2003 and has worked to establish relationships with the region's businesses and political communities.
She said: "I look forward to another year in the role, however, I am under no illusions that there is a lot of hard work ahead and I will continue to do all I can to support our businesses through these challenging times."