Soutar, formerly the managing director of IPC ignite!, the division responsible for music and men's titles including Loaded, Muzik, NME and Uncut, will also retain his role as the managing director of Wallpaper.
When the roll-out of new products begins, it will be the first time in almost two years that IPC Media has launched a new title, the last being the consumer-focused internet title Webuser in the first quarter of 2001.
The group marketing director, Phillippa Brown, has been promoted to the IPC Media board, the first time a marketing position has been represented on the publisher's board.
The management changes follow the completion of the integration of IPC Media into AOL Time Warner, following its acquisition in 2001.
"Following our integration into AOL Time Warner, IPC is now fully committed to growing its business," Sly Baily, the chief executive of IPC Media, said. "A key part of this will be a significant new magazine development and launch programme."
In addition, Tim Brooks moves from managing director of IPC SouthBank to the same role at IPC ignite! to replace Soutar. IPC SouthBank publishes glossy monthlies across the women's and home and garden markets including Marie Claire, Ideal Homes, Essentials and Homes & Gardens.